Getting a loan

In today’s digital world, convenience is important. That’s exactly what Open Banking offers. It lets you securely share your financial information with trusted and regulated providers, making tasks like applying for a loan easier and quicker. However, convenience often raises questions and concerns about safety, security, and privacy. Understanding open banking Open Banking allows you…

When used wisely, credit cards can help build a strong credit history and improve credit scores. As a result, it’s easier to get a loan. However, using credit cards for everyday and non-essential spending can lead to spiralling debt. This negatively impacts your credit score. Because of this, it will be harder to access credit.…

When it comes to applying for a loan, whether through a credit union or a traditional financial institution, it’s essential to ensure you’re getting the best deal possible. Most people focus on the interest rate. However, several other factors can significantly impact the overall cost and suitability of a loan. Factors to consider when comparing…

There are several ways affordability is considered by lenders. Lenders are legally obliged to assess the affordability of a loan. Usually this involves looking at bank statements or (for a quicker decision) by opting in to Open Banking. The following tips outline several ways you can ensure your affordability isn’t impacted too much. The lenders…

Open Banking makes it easier for you to access loans from credit unions.  What is Open Banking? Open Banking is a data sharing system allowing individuals to securely share financial information with other authorised third-party companies. This includes financial institutions such as credit unions. Having access to your financial information (including your income and spending)…

A financial association is a link between two or more people who have shared financial accounts or products. This includes joint bank accounts, credit cards, mortgages, and loans.  Financial associations can affect your credit profile, as their credit history may also be taken into account when lenders make credit decisions. If a financial associate has…