Borrowing Calculator

Interest Rate: For the purposes of our calculation, we assume:

• a variable interest;
• unless you enter another rate, a standard variable rate applies;
• a fixed interest rate applies for the full 30 years (or as selected) – as we can’t predict future rate of interest

Repayments: These calculations are for indicative purpose only. When calculating re-payments, we have had to make a number of assumptions which may affect the accuracy of the amounts shown. They include:

• That your annual interest charge is divided equally over 12 monthly payments (in reality, interest is calculated daily and charged monthly which can lead to your interest charge varying between months).
• That interest is charged to the loan account at the same frequency and on the same day as the repayments are made (this may not be the case for your loan).
• That any upfront fees, charges or duties you incur in relation to the loan and/or the property are not loan funded unless you have included them as "additional funds required".
• We have rounded some amounts to the nearest cent when calculating your indicative repayments.
• Repayment buffer included, in relation to any repayments you make in relation to any home loan/s you have which are not being refinanced. This allows us to factor in, to some degree, the effect of those repayments going up if interest rates increase.
• We have also assumed that the repayments are principal and interest repayments.

Borrowing power calculator

Borrowing power: The loan amount has been calculated based on the information input by you, and information sourced by third parties. This amount may not be the final amount you need to (re) finance your property and is used solely for the purpose of providing you with an indication of the loan amount you may require, the upfront costs you may incur, and the repayments that may be payable if you took out a loan for that amount.

The maximum loan amount is an estimate only, based on the income and expenses entered. It doesn't take into account loan eligibility criteria or your complete financial position. This estimate takes into account stamp duty and registration costs calculated using the relevant government authority websites. It does not take into account any concessions you may be eligible for (such as first home buyers discounts) or any surcharges or additional and duties that may apply given your individual circumstances. We cannot guarantee that these rates are correct, up to date or are the ones which would apply to you. You should confirm the government costs and duties payable with the relevant government authorities.

For the borrowing power calculation, we have used all of the income that you have stated in the calculator to arrive at a borrowing power amount. If you apply for finance, there may be instances where the financial institution do not include all of your income in an application. This may impact the actual amount you can borrow.

We have also made a number of assumptions when calculating your borrowing power. Those assumptions affect how reliable the borrowing power amount is. Our main assumptions are set out below.

• Expenses: If the expenses you entered are less than those we think you should have using the "Basic Australian Household Expenses", we will apply the Basic Australian Household Expenses figure. Note: Basic Australian Household Expenses is sourced from the Melbourne Institute (see www.melbourneinstitute.com).
• Interest rate buffers: Interest rate buffers: We include an interest rate buffer in our calculations. This allows us to factor in, to a degree, the effect of interest rate increases when working out how much you may be able to afford.
• Loan term: We have assumed a 30 year loan term.
• Interest rate: For the purposes of our calculation, we assume:
  • a variable interest;
  • unless you enter another rate, a standard variable rate;
  • the interest rate will not change and will apply for the full 30 year loan term as the interest rates are not predictable for the future.
• Repayments: Repayments are indicative only. When calculating repayments we have had to make a number of assumptions which may affect the accuracy of the amounts shown. They include:
  • That the interest rate displayed will not change and will apply for the full 30 year loan term as the interest rates are not predictable for the future.
  • That your annual interest charge is divided equally over 12 monthly payments (in reality, interest is calculated daily and charged monthly which can lead to your interest charge varying between months).
  • That interest is charged to the loan account at the same frequency and on the same day as the repayments are made (this may not be the case for your loan).
  • That any upfront fees, charges or duties you incur in relation to the loan and/or the property are not loan funded unless you have included them as "additional funds required".
  • We have rounded some amounts to the nearest cent when calculating your indicative repayments.
  • We will also include a repayment buffer in relation to any repayments you make in relation to any home loan/s you have which are not being refinanced. This allows us to factor in, to some degree, the effect of those repayments going up if interest rates increase.
  • We have also assumed that the repayments are principal and interest repayments.
• Set up costs: We have not been able to calculate all the possible set up costs that you may have to pay. Where you have entered information in the home buying scenario table, the calculations include government registration costs and stamp duty on the transfer of land and on one real property mortgage. This doesn't include the registration costs for discharges of mortgage or for additional mortgages.