Five ways to ensure you’re ready to buy

22 March, 2017
Once you’ve decided that you’re ready to take the step toward home ownership it can be hard to think straight. There is so much to consider, and you just want to be in your house already! Here are five ways you can get the ball rolling sooner, minus the fuss.

1. Manage your credit

One of the first things that happens when you apply for a loan is a credit check. We need to understand any lines of credit you have, and how much debt you may already have. This doesn’t just include other loans like car loans, but can also extend to any credit cards, phone accounts or HECS-HELP debt (HECS prior to 2005).

Do you have any unnecessary lines of credit open? Can you reduce your credit? Are you paying all your bills on time?

You can check your credit history by getting a copy of your credit report. By obtaining a copy of your credit report before applying for credit you might not only save embarrassing knock backs but also get a better deal! Obtain a copy or your credit report through Veda.

2. Understand where you spend money (and where you can save it)

How do you track your spending? There are many apps that make it easy to see how you send money, or simply check in regularly on your CWCU Mobile banking app or review your eStatement to really understand what you’re spending money on. How much do you spend on buying lunches, coffees, movies, magazines, etc? Is there anything you can consolidate or live without?

3. Check in on your savings accounts

Consider a high interest savings account to help your deposit grow faster. Squirrel away bulk deposits that arrive in your account like tax returns, bonuses or your excellent eBay sales returns. Some of our savings accounts offer a higher interest return with an entry limit as low as $1. To get started and get more information, check out the accounts listed below, register your interest and we’ll get in touch to discuss your options.  

4. Get conditional approval

Start to understand your lending options early, and make sure you consider the value in personalised service when shopping around. Conditional approval will give you the confidence to seriously look at properties, and might make all the difference when it comes to placing an offer on a home. Because we’re a local business, with CWCU you have better access to the people who make the decisions. No matter what stage of the loans process you're in, our Mobile Relationship Officer Tony can come and meet with you to discuss your option, and guide you through the whole process. There’s nothing worse than being stuck in a loop of endless paperwork or being slowed down by the approvals hierarchy, so consider this when seeking out your loan.

Not sure where to start?

Our Mobile Relationship Officer Tony can help make it easy for busy people to access our services and talk you through the whole Home Loans process, no matter what stage you're in.


5. Be cynical

Once you have your deposit and conditional loan approval in order, make sure you don’t let the desire to be a homeowner, fast, override any warning signs when you’re seeking a home. Make sure you do your due diligence when it’s time to purchase a home.

Good luck.


We want to make lending easy.

Did you know that you can register your interest online, and we’ll give you a call to let you know your home loan options? It’s just another way we provide a more personalised service, and reduce the hassle.

Don’t wait, check out our Home Loans and register your interest today.