Mrs Scash increased it to $2,000 pfn. This is net income obviously and you need to stress this with the lender. We have a small home loan which is fully offset, a line of credit which we have never used and she has a small credit card. They asked for interest rates so they could calculate payments and assigned 50% to her. We are also very judicious in what we declare for living expenses and tend to under estimateHi, thanks for your reply. Good to know. If you’re comfortable sharing…how much draw down was ANZ happy with? Thanks
. My previous working life was in finance and most lenders assign a minimum amount (based on income, marital situation, # of dependants, postcode etc) so I tend to under declare. Otherwise if you declare an amount which is higher than their minimum they will use the higher mount which affects your serviceability. It really is a bit of a game.Reminds me about those who apply for a car loan and declare that they have children. Usually refusal (for their honesty) as they are perceived as being a risk for servicing of the debt. Children do not exist for loans.
