This includes your fixed remuneration and any bonuses or allowances you receive. It is important

when discussing your income with your Mortgage Broker that you disclose the types of income

as some lenders may assess different types of income at different rates. As an example, your

overtime might only be assessed at 80% of your income, but if you were in essential services it

may be assessed at 100%. Your Financial Liabilities This includes things such as credit cards, personal

or car loan and HECS debt. It also includes After Pay and Zip Pay and any interest free loans you

may have. Credit cards with no debt owing but still active also need to be disclosed.

Your Living Expenses Mortgage Brokers and lenders have an obligation to ensure they are not putting you into a loan that would cause you undue hardship. A key factor How Much Can You Borrow?

The amount you can borrow will depend on several factors and is another reason why it is important to engage your Mortgage Broker in the process BEFORE you are wanting to buy a house.

Your borrowing capacity will depend on several factors including:

in assessing this is reviewing your living expenses. This is normally done by assessing your last 3-6

months transaction and credit card statements to assess how and where you spend your money.

One of the key benefits of working with your Mortgage Broker before you are ready to buy

a property is that they can help you identify any changes in your spending habits that you could

make to provide a more favourable view to the lender.

Please note, whilst it is good to review your living expenses and reduce discretionary costs, it is also

important that you balance that with your lifestyle. You want to ensure that this is a budget you

can stick to long term and not feel like you are sacrificing too much for the sake of buying