Buyers Responsibilities

As a buyer, you have responsibilities  to make sure you are in a position to get your finance at the end of your contract period or be in a position to extend the contract if needed..

Main Points.

  • When you fill out the application form please ensure all details are accurate and all fields are filled in.
    • It is our job to assess your application and to ensure that you will be in a position to be able to maintain and complete the contract successfully. The more honest and complete your application is, the better the assessment is.
  • Your ability to get a loan within the time frame of your contract is largely in your hands, a few things you need to consider that you may not be aware of:
    • Keep your same job or stay in the same industry, especially for the last 2 years of your contract. Banks like this stability.
    • Make your house payments on time as much as possible – A good payment record goes a long way with the bank later on.
    • Pay your bills on time – keeps your credit score up and will present well to the lender when you go for your loan.
    • Keep your Credit History CLEAN. Part of this is paying bills on time but also keep in mind the following. Do not apply for store cards, credit cards, pay day loans, personal loans or any other finance during your contract period as it will effect your credit rating and affordability to get your home loan when you need it.
  • Keep the house in good condition. When you go for your loan the lender will do a valuation (have a look at the house) and well presented homes generally value better than untidy ones


For more information on keeping your credit score in good stead check out Veda Advantage – Australia’s biggest Credit Scoring Company