HLG052 Why your borrowing capacity can change even if your income hasn’t (586 words)

Your borrowing capacity isn't determined by your income alone. Find out why interest rates, lender policies, existing debts and living expenses can change how much you may be able to borrow.

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It’s been a while since you last had a salary increase, so the amount you could borrow as a home loan is the same as last time you checked, right?
Wrong.

Your salary is only one of the factors that can affect your borrowing capacity. There are many others, relating to changes in the economic and regulatory environment, adjustments in lenders’ loan assessment criteria, and changes in your personal financial circumstances unconnected to your earnings.

Here are some of the main reasons your borrowing power can change.