Our brokers thoughts and opinions:

Before I submit a loan application to the bank, I always print out a credit report for the client. Over the last couple of months, I have been seeing a lot more FIRST HOME BUYERS – and many of these clients are in their twenties and big users of AFTER PAY, ZIP PAY etc.

All of these appear on the credit report and from a lender’s perspective, they are a concern – why?

Lets go back to how they work… they are generally for small items, for example an item of clothing or a haircut. The item may cost $200 which means you have the option of paying 4 smaller payments of $50. As a lender, they are wondering if you are going to be able to afford their loan and make the repayments. WHY??

Because…..if you can’t afford a small item like a haircut or piece of clothing, how are you going to be able to afford your loan?



Please know – use of these payment providers DOES LOWER YOUR CREDIT SCORE.

Some people ask – which is better: After or credit cards?

My answer – neither! Using either of these payment providers generally means that you are not keeping to a budget and are spending more than you make…

This leads to a world of debt that many people find hard to escape!

Think before you AFTER or ZIP PAY as it may end up costing you more at the end of the day!


Hellen O’Reilly
Mortgage Broker
0403 498 966