Recently, we heard the Government making a change to the maximum age of children for recipients who receive the Single Parent Payment.
From September 20th 2023, the minimum age for children will increase to 14 years of age.
Potentially, more parents may be able to use their single parent income towards their loan.
There will still be lenders who do not use single parent income, and child support for loans. Brokers are able to find out if your income can be included in your future loan as it is a very niche solution.
We are seeing a trend where lenders require more than Centrelink Income for your loan, so please be aware of this change.
For any further details, please call 0403 211 361 or email hello@georgefinancialservices.com.au to discuss your situation in detail
