APPLYING FOR A HOME LOAN? WHAT THE BANKS LOOK FOR

APPLYING for a home loan is the most important step on the home-buying journey, but many first-time applicants are in the dark about what the banks – the institutions with the power to approve loans – are looking for. Rhys Dyer, chief executive of ooba Home Loans, says the process is relatively straightforward, provided you have all your financial affairs in order. “The banks begin by reviewing your credit score, before moving on to your income and expenses to gauge your ability to repay your instalments.”