Aaron Whybrow explains why lenders scrutinize Uber Eats charges on your bank statement. Frequent food delivery transactions get flagged as discretionary spending, which can reduce how much you're approved to borrow for a home loan.
Does Uber Eats affect your home loan application? I have recently become a little bit of a fan of Uber and Uber Eats. I've just gone through some conferences recently in states where Uber drivers have been fantastic and phenomenal and it's just carefree and easy. Just press the app, bang and the car rocks up and you got the number plate so you can see it in amongst the crowd. Uber Eats is the next thing I've tried. It was only myself traveling and I stayed in a nice and cost budget hotel and I was able to use Uber Eats because I didn't want to go out and I had a bit of work to do and it was easy too. I just went on the app and I said what floor I'm on and where my room was and they were able to deliver my chosen food. So does Uber Eats, when you get a little bit of a fan of it, start to affect your home loan? Because it's really easy to jump on the app and press a button. I'm fortunately outside the Uber Eats area at my place, but so I don't have too many expenses to Uber on my bank statements. So you probably know where this is going if you go to Uber Eats, it's like eating out. If you've got lots of multiple transactions of Uber Eats on your bank statement, there might be some questions about is this normal everyday living expense like going to Audi Kohl's whatever you do to do shopping, or is this a discretionary expense that we can we need to have over and above what the benchmark of living costs are for the banks. So Uber Eats and your home loan application. I love Uber Eats, especially when I'm traveling. But be careful how much Uber Eats you have. It could be fairly similar to your Pizza Hut bill or Domino's bill that comes up on your transactions. So might be something to think about if you're moving from say just a handful of random Uber Eats to regular every single day. Having Uber Eats come in, that really becomes some history that we need to put and have a look at your living costs. So if you need any help with living costs and things like that, I'm more than happy to check statements out and see that your application is ready to go in for a home loan.
