Don't do buy now pay later
| # | Post |
|---|---|
| 1 | It can lead to a mortgage decline, especially if you are a first home buyer Seeing a lot of this recently jeffqv - 2021-09-15 18:31:00 |
| 2 | So if you do buy now, pay later you may not be able to buy now, pay later. sparkychap - 2021-09-15 18:36:00 |
| 3 | sparkychap wrote:
love it and....yes! jeffqv - 2021-09-15 18:50:00 |
| 4 | The 'kids" my daughter and her partner are looking a buying. The only debt they both have are their student loans. Even though they are in level 2 they are waiting to see what happens next week with any announcements and then off to see a mortgage broker. joanie04 - 2021-09-15 20:10:00 |
| 5 | sparkychap wrote: cinderellagowns - 2021-09-15 20:55:00 |
| 6 | jeffqv wrote:
Not surprised. Banks have always been conservative lenders. Claiming a "right to borrow money" is fanciful, to the point of delusion. amasser - 2021-09-16 12:22:00 |
| 7 | So basically the bank is saying if you currently have a $200 per month "pay later", with say 3 payments left, they will for the purpose of calculation say you will have a $200 per month pay later / loan repayment every month into the future !! onl_148 - 2021-09-16 13:02:00 |
| 8 | Well I use afterpay even though I have the money in the bank I could use. Just saves me taking it out of my savings account and just pay it every week until it's paid for. differentthings - 2021-09-16 18:21:00 |
| 9 | Is it preferable to have credit card debt than bnpl? ash4561 - 2021-09-17 22:05:00 |
| 10 | ash4561 wrote:
I think No. I was told years ago that banks look at your cards and take the amount of the credit card limit and treats it as a debt so your borrowing ability is reduced. They apparently check whether you pay the minimum amount due, whether you get behind and have penalties etc. lovelurking - 2021-09-18 09:23:00 |
| 11 | lovelurking wrote:
This. When we borrowed over 20 years ago. It was a low deposit housing scheme, 5% deposit. We had to get rid of all money owing. I had a bank credit card, and AGC card (nothing on it) and a Farmers Store card. They all went because of the high at the time limits and I was no longer working full time. I now have two bank credit cards, with very small limits and no store cards. The only thing I put on account, is the vets (down to one older dog) and the local stationery shop for bits and bobs. Every thing else is paid on the day. My daughter has taken after me, thank goodness and is very good at ferreting away and the only debt she has a small student loan. Unlike her father who has managed to flitter away close to $100,000 in less than three years on nothing in particular. joanie04 - 2021-09-18 15:22:00 |
