Keeping borrowing levels down

24 January 2008
print version

Every day in our various business areas we receive applications for finance from individuals who have not properly considered the implications of entering into a borrowing transaction.

In some ways the credit crunch has placed more discipline on lenders and credit is not as easily available today as it used to be .

A few tips include:

  • Only borrow what you can afford not what a lender is willing to give you
  • Remember that the repaymenst need to be met every month
  • Don't take out multiple loans
  • If you are having a problem tell your lender
  • Always know what interest rate you are paying