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With pre-planning and research, you can ensure you are on the right track to set yourself up for success when buying a home. Follow our easy home buying guide below to get an idea of how you can break into the property market. Determine How Much You Can Afford Using our home loan repayment calculator is the first step in understanding how loan repayments work and gives you an idea of how much you can afford to borrow. Determining affordability is about knowing your financial limits. Don’t over commit, and use foresight to think about possible future outcomes like a growing family, changes in employment and the cost of living. Save for a deposit Saving as much as you can for a house deposit before buying a home is ideal. The more you save, the less you have to borrow – therefore paying less in interest over time. Check out our blog article on saving for a house deposit. Understand your home loan options Home Loans come with many features so it is important to understand which mortgage will suit your needs. At a high level, there are fixed rate loans and variable rate loans, where you can pay off the principle and interest or interest only. Offset accounts and redraw facilities are great for saving on interest and helping you budget. Ask one of our lenders about which type of home loan would best suit your needs or you can check out our Home Loan Comparison table. Get Home Loan Pre-approval Getting pre-approved with Horizon is easy and worthwhile, as it lasts 3 months which gives you plenty of time to research the property market and make an offer on properties you know you can realistically afford. Consolidating or minimising debt will not only improve your overall financial wellbeing but also make you a strong candidate for pre-approval. To learn more about lending and home loan pre-approval with us, check out our page on the loan pre-approval process. Research suburb profiles The suburb you purchase in can affect things like ability to rent and resale value. Research suburb profiles online for the demographic of people living in that suburb, average incomes, house prices, rental yield and auction clearance rates. All of this information will help you determine the best area to buy in. You can always ask real estate agents for any available information at open houses. Find a Home in Your Price Range It’s important to buy something you can actually afford. This is why having home loan pre approval is an important first step before visiting open homes or display villages. You can then research house listings online or in the newspaper and make a note of open houses to visit. Take a trusted friend or relative as a second pair of eyes when inspecting properties so you don’t miss anything. Be sure to factor into your budget associated home buying costs such as stamp duty, solicitors fees, building and inspection reports and insurances. Let us get you on the path to home buying success. Get in touch with the friendly team at Horizon today and let us help you on your journey. Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong.   The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.

The benefits of buying an investment property include:  Ownership of a secure asset  The future sale and benefiting from capital gains  Rental income to cover loan repayments and other associated expenses  Building equity  Taxation benefits Four main factors to consider when you decide to purchase an investment property is property type, location, growth and demand. Property type You should consider the type of property you would like to purchase and which will meet your budget and goals. The type of property that you decide on will determine the level of rental income you can receive and may change depending on the upfront and ongoing costs. Location When choosing an investment property it's location, location, location! Will the property value increase over time? Will it provide you with adequate income? Other factors to consider also include proximity to public transport, schools, childcare, shopping facilities and parking. These are important to attract tenants. Growth Consider how the potential investment property has performed over the previous decade and how it's likely to do in the future. Do some research of property prices in the suburb and surrounds. It would also be beneficial to consider the population growth, property prices and potential rental income of the area. Also consider new property and off-the-plan developments which may impact future rental income. Demand In relation to growth, demand is vital for investors. You don’t want to purchase an investment property in an unpopular area or without the features that tenants are looking for. Features high in demand are internal laundries, balconies, parking spots & lock-up garages, built-in cupboards and good storage space. Also consider any renovations that may be necessary and could potentially add value to the property. To see how much your repayments will be use our Loan Repayment Calculator, or use our Borrowing Power Calculator to see how much you could comfortably borrow. Better still, have a chat with one of our lending specialists. They'll be able to take you through options, help you calculate how much you can afford and help prepare you to take your next steps. Get in touch with Horizon Bank today about our investment loans. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.

In this blog we’ll go through exactly what you need to apply for a car loan with us. Whether you are after something previously loved or a new shiny set of wheels, applying for a car loan is easy and we can have you pre-approved before you start looking. Below is all the information you need to start the process. What's required to apply? Before applying, you might like to check out our car loan repayment calculator tool to get an idea as to how much your loan repayments are likely to be. When you’re good to go, and if you’re not an existing Horizon customer, you'll need to provide two forms of ID. We can verify you when you apply online, making the process even quicker. To assess your ability to repay a loan your lender will need pay slips or bank statements as proof of income. We may also call your employer for verification. You'll also need to disclose what you currently own - assets (e.g. existing vehicles, savings, house) and what your expenses are - liabilities. These include but are not limited to existing loan repayments, credit cards, HECS debt and rent. How do I know if I qualify? Your lender at your local branch will respond to your application after assessing your income and completing a credit check. The request for recent payslips, as proof of income is a key factor to qualify for a car loan, as you'll need to prove you have a steady source of revenue coming in to meet your repayments. After you’re approved Before we release the funds the car must be comprehensively insured with motor vehicle insurance. You can choose between market and an agreed value. Ask your lender about car insurance during your loan application. We can set you up with regular automatic future payments or payroll split so you never have to worry about manually making your repayments. Next steps Transfer of registration if it is a second hand car. When a used car changes hands, the registration has to be transferred from the seller to the buyer. It's the buyer's responsibility to transfer the registration. Contact Service NSW for further information. Need some extra help with planning and saving? Get in touch with the friendly team at Horizon Bank today and let us help you on your journey. Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank. * Credit criteria applies.

Consolidate your debts and get ahead. What are personal loans used for? Typically they help to buy white goods and furniture or they’re used for travel. However, did you know that many people also use personal loans for debt consolidation? That is, combining many debts into a single loan making it easier for you to control your repayments and get on top of your debt. Why consider debt consolidation? Paying off multiple credit cards or personal loans can feel overwhelming and somewhat stressful. You’re likely paying these loans off at different (and sometimes quite high) interest rates with many repayments coming out at different times during the month. Different loans can also often come with varying setup and ongoing administration fees. All of these added costs make budgeting and saving difficult leaving you with an unclear outlook for your long-term financial goals. How does debt consolidation work? Instead of having a few loans or credit cards to pay off, you can combine what you owe into one personal loan with a single interest rate. Your debt is still there, but this will enable you to better manage your money and give you a better idea of when you will pay your debt off, as you’ll have just one loan term to think of rather than many. You’ll also save money because a personal loan generally has a lower interest rate than credit cards. You’ll then only have to make one repayment rather than several, and you can always choose a weekly, fortnightly or monthly repayment option. Tip* weekly repayments will save you money in the long run too. You can do a debt consolidation loan comparison by comparing our personal loans. Things to think about Consider the size of your debt after combining your loans and be realistic about how much you can afford to repay and how often. Talk to us about your options, to ensure one single larger loan won’t become a burden. Keep in mind that setting up your repayment frequency to match your pay schedule, is a great way to make sure paying off your debt is a priority before spending elsewhere. If you don’t think you’re disciplined enough, we can organise automatic payments for you which takes the hassle out of your hands. Ready to consolidate your debts? Get in touch about a Horizon personal loan today. Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.

Car buying advice made easy Car buying is often made easier if you can take someone with you who is experienced in the matter. Trusted persons such as parents, friends or relatives are a good example. The internet is full of car buying advice, good and bad! We’ve made a simple car buying checklist you can follow when looking for a new set of wheels. Buying a used Car Buying a used car in NSW? Check out car buying sites online where you can select different makes, models, prices and set the location you’re looking to buy in. Set yourself an amount and stick to it! Be prepared to negotiate on price Don’t be afraid to ask the owner for a test drive You may be thinking, what do I need to take to buy a car? Consider the following; Your driver’s license A small cash deposit to assure the seller you’re serious and to prevent them from selling the car to anyone else A reference or credit check from your financial institution to say you have good credit history. (This is only if you plan to get finance from the car dealer) Buying a new Car The lists are much the same, however if you have the time, visit a few dealerships and ask if any extras and upgrades will be included in your car purchase price. Car salesmen will straight up ask you how you’ll be paying for your new car. ‘Cash is King’ still reigns true and paying by cash will give you higher bargaining power. However if you’re needing a new car loan do your home-work and look around for the best car loan rates. Horizon’s car loans are competitive and have a low establishment fee. Do a car loan comparison and enquire about Horizon's car loans.  After you’ve bought your car Motor vehicle insurance and a Green slip are the next things to purchase before you get your car on the road. You don’t have to purchase comprehensive car insurance, but it is the best option for peace of mind that all parties will be covered in the event of an accident. Check out the different levels of motor vehicle cover.  Getting rid of your old car Now, what to do with your old car? Trading-in may ease the hassle of trying to sell your car privately but you'll normally get more for your car that way. Unfortunately, if you’re buying a new car, dealerships do not usually offer you a great deal for trade-ins. Finally, don’t forget to submit a notice of disposal for your old car so the Road’s and Maritime service know you’re no longer the owner. Let us help you on your journey. Get in touch with us today to discuss our car loans available to you. Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.