Step 1 · 1–2 days
Check your borrowing power
Find out the maximum a bank is likely to lend you based on your income, debts and current interest rates. It's an estimate, not a commitment — but it sets the ceiling for what you can shop for.
How to approach it
Use an online borrowing calculator or speak to a mortgage adviser. Gather your last few payslips, a list of debts (credit cards, personal loans, student loan) and your deposit figure. Most banks work to around 5–6× your gross household income, minus debts.
Watch out for
Borrowing power is not the same as a True Budget. The bank focuses on what they can safely lend; they often ignore your real living costs. Treat this number as a ceiling to aim under — not a price to pay up to.
Cost & timeframe
Typical cost
Free
Typical time
1–2 days
Common questions
How is this different to pre-approval?
Borrowing power is your own early estimate; pre-approval is the bank's written confirmation once you've handed over documents.
How do banks calculate it?
Mainly your income vs existing debts, the test interest rate (usually 1–2% higher than advertised), and the size of your deposit.