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Credit Tips
How to Improve Your Borrowing Power
Want to increase your loan approval chances? Discover practical steps you can take today to boost your borrowing capacity.
Sarah Jenkins
Sep 28, 2024
6 min read
Tidy your expenses
Lenders review your living expenses closely. Trim discretionary spending 3 months before applying to present stronger affordability.
Reduce unsecured debt
Paying down credit cards and personal loans lowers your liabilities and can lift your borrowing power.
- Lower credit limits if you do not need them.
- Consolidate small debts to simplify repayments.
Document stable income
Keep payslips and employment letters handy. If self-employed, ensure BAS and tax returns are up to date.
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