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The amount a lender will offer – ‘borrowing capacity’ – is very high on the priority list for borrowers now.
So which banks tend to offer the most money… is it the mainstream funders with broader credit policies, is it the non-banks who aren’t governed by APRA, or is it the new fintech lenders who have entirely different assessment methods all together?
It might come as a surprise to less experienced borrowers but even given the exact same inputs, borrowing capacity between different lenders can vary widely. No two lenders provide the same result, and the more complex the scenario, the greater the differences tend to be.
In practical terms this could mean the difference between buying a larger home, or buying into a more desirable location. Or for those refinancing it could mean the difference between replacing existing debt with cheaper interest rates, or being able to release equity from an existing property.
Thanks for tuning in. Enjoy the show!
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The Long Property Show provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. Nothing in the Long Property Show constitutes legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.
