The Best Ways To Borrow Money
Friday 2 January 2004
Whether you want $500 or $25,000, we explain the cheapest ways to get it.
By The Landlord
There are four golden rules to borrowing:1 - Borrow within your means
Work out how much money you'll have after paying for housing, groceries, bills, transport, clothing and other personal costs. How much of what's left can you realistically afford to spend on repayments?
2 - Know what you're in for
Make sure you understand the contract. Know the total cost of the loan including any added fees and charges, and the number and amount of repayments. If you've given one of your assets as security for the loan, remember that by defaulting on the loan, you could lose the asset.
Read More - Opens in a new window
Commenting is closed
Property News
Why the future is not bleak for the housing market
Uncertainty continues to cast its shadow over the housing market but economist Tony Alexander has put together a list of reasons which offset the negatives and mean the market remains well-supported.
Commercial
$75m on offer for new developments
Auckland ’s long-term future is sound as well situated residential developments will always sell and demand for affordable housing remains strong, a leading non-bank property financier says.
Mortgages
Mortgage borrowing rebounds in May
New mortgage borrowing rose by roughly $1.6 billion in May as the property market showed signs of recovery from the Covid-19 lockdown.
