With 13 interest rate rises since May 2022, many Australians are finding it harder than ever to borrow what they need to buy a home or invest in property.
One of the biggest hurdles right now is the “stress test” applied by lenders. Even if the interest rate you’re paying is around 6%, the banks assess you as if you’re paying 9% or more. It’s their way of making sure you can still manage your repayments if rates rise again, but it can seriously limit how much you’re allowed to borrow.
That’s where we come in.
At Smartmove, we’ve built relationships with over 50 lenders—and unlike most brokers who stick to their favourite 4–6, we regularly work with more than 30 lenders every month. Why does that matter? Because we often see borrowing capacity vary by $100,000 or more, even for straightforward applications. In more complex cases, the difference can stretch to over $1 million.
Check out the example below from our calculator, showing just how big the difference can be:
We know every client’s situation is unique, and we work closely with you to find lenders who will see your financial picture in the best possible light—always making sure you’re comfortable with repayments and have a plan for any curveballs life might throw.
Some of the biggest levers we can use to improve borrowing power include:
- How lenders assess extra income – like bonuses, commission, overtime, or allowances
- How they treat self-employed income – each lender has a different view
- The interest rate they use in their calculations – not all stress-test the same
How they view your existing debts – especially those with other banks or lenders
It’s not about bending the rules – it’s about understanding them.
~ Simon Orbell, Head of Partnerships – Lending, Smartmove
If you’re feeling stuck or frustrated with how much the banks say you can borrow, you’re not alone and you’re not out of options. Let’s have a chat and see what’s possible.
