Hi, I was just wondering if the mortgage calculators on different bank websites are accurate when you load in your details and it says you can borrow x amount, is this normaly approx what you can borrow from that bank?
reason for asking is because I put my details in and it said what I could borrow but it does not ask for details on properties you own, so I put in the mortgage amounts in the expense box and it gave me a figure I could borrow.
I went to my broker and he put the details in his mortgage calculator which is what I guess the bank uses but it did ask for each mortgage etc and the result came well below what I had worked out on the banks website calculator.
Is the banks website calculator a guide only?
or has my broker ………. ………… ???Guide only. Might be right for first home buyers without multiple income streams and liabilities. If you have a few properties it won’t work.
Banker wrote:Guide only. Might be right for first home buyers without multiple income streams and liabilities. If you have a few properties it won’t work.Thanks again Banker
Yep got a few properties so that will be why its different.
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