When banks are calculating servicability what living costs do they assume for a family of two adults and two children. How much variance is there between banks?
Well its what Esanda used to assess me for a rollover of a car loan last week. I just laughed and said fine - use that if you want. Maybe they are on crack.
Good lord, when we had one property we lived off $1000 less than that for the 4 of us, including all the house related expenses. Now we have two houses its only $500 less. Wouldn't it be nice if they actually factored in that some people are cheapskates and education and water in some areas is free ...
Also explains why our regular bank said that our income was actually too low to service a loan at all.