Relaxed Lending Rules for First‑Home Buyers

Major banks have recently eased their lending criteria, making it simpler to qualify for a mortgage—especially if you plan to share your new home with flatmates.

You can now use potential flatmate income (boarder income) to boost your borrowing power — potentially up to $150,000 extra loan per one flatmate boarder income. 

Please note that each bank has its lending criteria on how much each boarder's income can be used and how many flatmates can be included in the servicing.

No need for a signed letter from your future flatmate — a simple declaration of intent is enough.

This is a big help if you're planning to buy your first home and need support to meet the mortgage payments.

This update is a significant win for first‑home buyers who rely on shared living arrangements. By tapping into boarder income, you may find it easier than ever to secure a mortgage and move into your first home. If you’re ready to explore your options, get in touch with our team today—let’s turn your home‑ownership dreams into reality.