Factors that determine your borrowing capacity

Discover other factors that define your borrowing capacity. It is essential to understand that every case is unique.

 

That is why at One Central Property, we offer tailored services for our clients.

 

You could get a one on one session with your dedicated broker to compare with over 40 lenders

to provide you with the best rates in the market.

 

Remember, you can always re-negotiate your loan; banks are always on the look out for new borrowers

Did you know that two people with the same income could get different loans at different rates?

Payment History

Lenders want to know how you have paid your debts over the period of your credit. 

 

Having no late payments in your credit report helps to achieve better interest rates.

 

 

Quantity of Debt

Having a large sum of debt is not always a bad indicator. 

 

Lenders are more willing to lend money to those who have debt on positive assets despite their debt quantity.

 

 

Length of Credit Record

Having a credit record of many years provides lenders with a better idea if you will ne a good payer or not. 

 

Potential clients with short credit record could face slightly higher rates