Banks use different formulas to calculate how much you can borrow. Two identical applicants can get loan offers that differ by $500,000 just because they chose different lenders. There's no standard rule, so your serviceability depends on which bank you ask.
When it comes to building versus buying, what kind of percentage serviceability are you looking at as a general rule of thumb, i.e., $500 per week mortgage, $800 per week rent? There are so many variables in there that I can't compute what that's going to be. So many variables, it's not funny. So every bank, how they factor in your serviceability, they have their own criteria and how they do that. And you can get serviceability differences of $500,000. With the same person, the same day, same situation, but different banks will lend $500,000 different. And so it's going to change things drastically depending on what the lender is that you're going to be doing.
