Michelle Isemonger

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262 appearances 1 recordings 1 series first heard Jul 2026 last heard 19 Jul

Michelle Isemonger’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.

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The Prosperity Project · What banks really check before approving your mortgage · 19 Jul 2026 podcast

In a servicing calculator with a bank, you're purely just entering in the monthly repayment that someone's paying as well.

So that does hinder the amount of lending that they can borrow.

Yeah, so previously you were able to exclude credit cards way back when, when you met your credit card repayments every month.

So if you cleared your credit card every month, you were able to leave it off the application.

Now we have to include the credit card limit.

So if you've got a 50k credit card limit, that is going to hold you back quite a lot in your application.

Yeah, the banks looking at it as a going concern.

They're looking at it that tomorrow you could go and spend $50,000 on a credit card and you might not be able to pay it back.

So they include it like an ongoing loan.

Even if you have absolutely nothing on your credit card, they're looking at it as if you're going to go max your credit card out tomorrow essentially.

It depends on servicing as well.

So you can make those suggestions as well in terms of – and people are always really surprised in terms of how much –

the credit card does affect how much they can borrow.

So it is a matter of sort of moving some numbers around in terms of if they do have such a large unused credit card, it's going, do you need that level of lending available to you?

Usually if they've got nothing going on it, the answer's no.

And so it's kind of going, okay, cool.

Well, if you drop it down to 30 or 20, then maybe you can get where you need to be.

I mean, there's lots.

So you sort of try to guide people and give as much advice as you can.

You know, going self-employed in the middle of an application, as you've mentioned, is one.

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