Do your spending habits need to change?
Mark Collins, CEO of Mike Pero Mortgages discusses how your spending habits can impact your borrowing power
12 September 2018
Did you realise your streaming subscriptions and gym membership could cost you up to $45,000? Mortgage lenders are paying more attention than ever to discretionary spending.
When you apply for a home loan, lenders calculate monthly expenses to determine if you can meet repayments. Traditionally, some lenders have used benchmark figures to determine living expenses. However, more lenders are now scrutinising exactly what applicants are spending their money on.
Speak to a Mike Pero Mortgage Adviser, they have access to a full panel of lenders, some of whom are much more flexible and will take the time to look at your full story. You can find your nearest Mike Pero Mortgage Adviser here.