Archives for February 2023

When lenders determine your borrowing capacity, there’s a few factors they take into consideration. We take a closer look at each of the factors here. It’s helpful to understand what factors might be limiting your borrowing capacity, should you wish to maximise it.   Income When performing servicing calculations, a lender is simply trying to determine that at the end of the month - after your income has come in to your account and living costs/monthly commitments have come out – … [Read more...]

You know that conversation you had with your local bank? The one where you walked away from the appointment thinking you were pre-approved? Well, we’re sorry to be the bearer of bad news. But there’s a fair chance you’re not as covered as you think you are.   Your pre-approval may not be a pre-approval after all If you haven’t provided recent payslips or supporting documents and/or you haven’t signed a loan application, there’s a very good chance you don’t actually have a … [Read more...]