PERTH & MANDURAH 08 9367 4222

08 9367 4222

It’s spring time, interest rates are at an all-time low and opportunity is in the air! Are you ready for your next property purchase? We have a powerful tool to share with you to help you get prepared.

There have been substantial changes recently in relation to how lenders assess your ability to service a prospective loan with regard to living expenses. Gone are the days when a loan was assessed primarily on income, taking your word for it in relation to living expenses and using the Household Expenditure Measure (HEM). Nowadays, banks will take a close look at your discretionary spending. That’s right! Do you eat out more than in? Do your online subscriptions add up to more than you realised? Lenders will analyse your bank statements for up to 3 months.

To be the recipient of a “Good news – you’re approved!” phone call for your home loan, it is important that you live NOW as if you have the mortgage already and review your living expenses thoroughly.

One of the best ways to truly understand where you are at financially and what your on-going costs are is to have a comprehensive budget and stick to it! Launch Finance has developed a budgeting tool to assist you with this.

To receive a copy our comprehensive budget planner, simply send an email with the subject heading ‘budget planner’ to [email protected] and we will send it you. If you’d like to review your finances with one of our brokers, you can book in here.