An interesting statistic came across my desk earlier this month – Australians who change jobs experience higher wage growth than those who stay in the same role.
From a lending perspective, a higher income will help your loan get approved and improve your borrowing capacity. The only downside is that you may need to wait 6 months or until your probation period is over until you apply for a loan. Lenders need reassurance that you’re in a secure job and that you can make repayments.
If you’re looking to switch jobs and want to talk about how it might impact your borrowing capacity, book in a free appointment below.