Icon - Who we are



Preparing a budget of your income and expenses has now become an essential part in any loan proposal.

There is a federal government legislative requirement for all lenders to make adequate enquiries to ensure that the borrowers can afford the loan for which they are applying.

To do this they require a budget from the applicant of their income and living and other expenses.

Lenders will compare the budget supplied by the borrower to the industry minimum living costs ascertained for such a family entity (single, couple, dependents) and peruse the bank statements looking for expenses that may not have been identified in the borrower’s budget.

Lenders have their own minimum living expenses tables for the type of family unit matching the income level and will; use their own living costs estimate should they believe the borrower has underestimated their living expenses.

During the loan process applicants are requested to supply a budget of income and expenses to show the lender the new loan is manageable without any financial stress.

If you need assistance to prepare a budget check ASIC MoneySmart website.   

For an estimate of your borrowing capacity go to How Much Can I Borrow Calculator.

For more information on applying for a loan, go to the Essentials to Know in our website.

For more detailed analysis of how much can you afford please Contact us.

If you wish to contact one of our representatives now, please go to Find a YFG Broker.