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

Or where we find first-time buyers come a little bit unstuck is especially when you've got less than a 20% deposit, the banks are looking at your employment history.

So if you haven't been in your role for the last 12 months, they probably won't approve you for a loan.

Or if you've moved jobs, you need to have been clearly in the same industry for two years.

So that is something that you see, especially if you've got people coming out of uni and they're changing jobs and they're trying to figure out what they're doing.

The bank's looking at it going, well, what's the continuity of income here?

And it's similar with self-employed, right?

Like if you're

you know, quitting being a mechanic and opening up a bakery, the bank is going to be like, what, you know, what experience do you have here?

So they're just wanting to know that in the next couple of years, you're not going to turn around and go, oh my gosh, this business has fallen over sideways or I've gone into an industry where I have no experience and I've got no income and I can't pay my mortgage.

So it does have terms and conditions, of course.

So with most banks, it's a three to four year clawback on it.

They are prorated though.

So if you do pay off a large chunk of your mortgage or refinance to a new bank within that period, they're not necessarily going to ask for the whole thing back.

They might ask for a portion of it back.

But first-home buyers are usually quite surprised.

Most people don't know what it is when they're first buying their home.

What?

I know, exactly.

So, I mean, I always explain it to make sure people are putting it in the right place as well.

You know, if they're being set up with a revolving critter or an offset, you're going, well, you can apply it because some people get really, really chunky cashbacks.

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