Australia's leading provider of affordable DIY legal kits
Call our Customer Care Specialists on 1300 728 200

Legal Forum

Welcome to the FREE AussieLegal Forum

This FREE legal forum is supported by participating lawfirms in your local area.
The information contained in this public forum, and any comments made by the administrators, it's appointed mediators, or members of the public are of a general nature and may not be regarded as financial or legal advice in any way. We recommend that you seek formal advice from a practicing solicitor or licensed financial advisor regarding your particular situation. By registering to use this forum you meet the above criteria and agree to abide by all of the above rules and policies.

To be sure we provide you with the most relevant information to your state, please let us know which state you your legal matter resides in:


AussieLegal recommends this law firm:

  FAQ FAQ  Forum Search   Register Register  Login Login

Homeloan with or without dependants.

 Post Reply Post Reply
  Topic Search Topic Search  Topic Options Topic Options
SkyLark View Drop Down

Joined: 30/August/2018
Location: Australia
Posts: 1
  Quote SkyLark Quote  Post ReplyReply Direct Link To This Post Topic: Homeloan with or without dependants.
    Posted: 30/August/2018 at 10:41

I’m looking for some clarification with regards my situation.

I live in Brisbane and am starting to think about purchasing my first home as a first time buyer. I’m a Professional Engineer accredited by Engineers Australia working within the aviation industry, employed full-time with a basic annual salary of $103,000 – and regular annual bonus of around $2500.

I’m curious to understand what my borrowing power would be as well as where I would sit regarding LMI. I have a deposit of $55,000 available.

Where my situation gets interesting is that I am married with 3kids. Currently my wife is not working and won’t be until my youngest starts school next year – and it wont be immediately back to work until the youngest is settled into the school routine.

How should this work for me? Are we obliged to apply together with a declaration of dependants – as I understand it this will have significant impact on borrowing capacity? Or, does the option exist to apply by myself only for a homeloan with no dependants. My wife receives some FTB – which is in the order of $300 per fortnight.

Many thanks


smurfergirl View Drop Down
Senior Member
Senior Member

Joined: 18/August/2010
Location: Australia
Posts: 532
  Quote smurfergirl Quote  Post ReplyReply Direct Link To This Post Posted: 02/September/2018 at 18:57
Given that one thing that has come out of the Royal Commission into banking, is that lenders have been forced to tighten their lending criteria and are becoming much more stringent in demanding realistic living expenses, you will be doing yourself no favours in not telling the truth.

You have 4 dependents and they need to be disclosed, otherwise you run the risk of overextending yourself.

Perhaps you may be better off waiting until your wife goes back to work.

Edited by smurfergirl - 02/September/2018 at 18:58

citizen-joe View Drop Down
Senior Member
Senior Member

Joined: 09/October/2005
Location: Australia
Posts: 759
  Quote citizen-joe Quote  Post ReplyReply Direct Link To This Post Posted: 07/September/2018 at 15:30
With a deposit of $55,000 you have a good start to getting a loan. You are not obliged to make a joint application but you must declare all your dependents.

I agree with the above poster, a joint application once your wife returns to work will have a better chance.

 Post Reply Post Reply

Forum Jump Forum Permissions View Drop Down

Want to save money?

Check out our list of do-it-yourself legal kits.

Need formal advice?

Let us help you find a lawyer who specializes in your particular area of law.

Need further information?

Visit our legal forum where you can ask questions and search for similar topics.