How much can I borrow?

How much can I borrow?

The main question we get is how much can I borrow and will it be enough to buy a house, investment property, business or whatever you are searching for. There are several factors at play;

Your credit history- in most cases this isn’t a problem, but there is the occasional time when something surfaces stopping a loan in its tracks. It pays to check this out before asking for a loan if you think there might have been a past issue.

Your deposit- if you are a home buyer you should assume you will need a 20% deposit.  We have however seen cases where this can be 10-15%, but each case is different. If you are an investor the deposit increases to 35%.

Your cashflow- banks are now asking more questions re your monthly expenses. Personal loans, HPs, credit cards and the like will impact on your capacity to borrow, so if you do nothing more, pay off all personal loans and reduce the limits on your credit cards.