People could miss out on their home loan being approved because of Afterpay and ZipPay, experts are warning.
Usage of Afterpay and ZipPay has surged I the past few years – but not many people realise it can seriously affect your chances at getting a mortgage approved.
Tic Toc Home Loans' Anthony Baum told News.com.au m any people didn’t realise it was another form of credit.
"Many times I think it's an oversight related to understanding that it is actually a form of debt," he said.
"A service like Afterpay has people buying things they don't really need with money they can't afford.
"If you are close to having that loan approved or declined, that could be the tipping point," Baum said.
Those who do use the services are urged to keep their purchases to a minimum and make sure they are paid off on time.