Has your borrowing capacity changed?
I was just listening to a podcast “This Is Property” and at 16:46 minutes Rachelle gives an example of a person on $95k income living at home rent free with parents going guarantor. He was previously pre-approved for $750k. After removing negative gearing from the calculation, his borrowing capacity has dropped to $400k.
Apparently, some banks take negative gearing into account, while others do not. Can mortgage brokers or anyone else share any additional insight as to how the Federal Budget changes will affect borrowing capacity?
u/Berryhawk — 7 days ago