Evidence can include a lease, rental statement or agent information. The proposed rent may be treated differently from established rent, and other property costs remain relevant.
What to understand first
Rental income does not guarantee borrowing capacity because the lender also assesses debts, living costs, rates and buffers.
What lenders may consider
Keep property and tenancy records current and use conservative cash-flow assumptions when planning.
Practical next steps
Gather the relevant documents and compare the complete position, including repayments, fees, timing and the purpose of the finance. Lender policy varies, and information should be confirmed for the application being considered.
Prepare rental evidence
Rental income is usually considered with the property's costs, vacancy risk and the borrower's other commitments.
- Keep the lease, rental statement and agent information current.
- Separate existing rent from an estimate for a proposed property.
- Stress-test the budget for vacancy, repairs and changes in interest costs.
This article is general information only and is not personal financial, legal, accounting or tax advice. Credit is subject to lender criteria, eligibility and approval.
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