HECS / HELP Debt... Does it affect borrowing power?
🤓 Yes it does, generally reduce borrowing power.
Didn't the regulator say they were going to make it easier?
🤷♀️ Yes they did (start consulting banks, that is).
Any changes yet?
🥳 Yes! One major bank announced a new policy FROM TODAY!
The new policy will allow the impact of a borrowers HECS/HELP debt to be reduced or removed entirely from serviceability calculations, if the debt is on target to being paid off in the short term.
Contact a Truly Finance home loan expert for a free consult, we'll crunch your numbers for you!
Truly Finance's advice, financial services and property strategies are generally complimentary. We do this for the best interests of our clients and we relentlessly strive to be the best mortgage brokers!
James Brett. Principal Mortgage Broker ☎️ 0439 591 759
Victor Simone. Principal Mortgage Broker ☎️ 0438 257 888
Andrew O'Brien. Senior Mortgage Broker ☎️ 0451 308 292
Nermalee Bowe. Senior Mortgage Broker ☎️ 0431 274 554
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