Struggling with a HECS Debt?

Commonwealth Bank (CBA) has recently updated how it assesses HECS/HELP debts in its home loan servicing calculators — and it could boost your borrowing power.

• If you have less than 12 months remaining on your HECS debt, CBA will now exclude it from servicing calculations.

• If your HECS debt is expected to be repaid within 1 to 5 years, CBA will apply a reduced servicing buffer of 1%, instead of the standard 3% assessment rate.

These changes can significantly increase your borrowing capacity — especially if your HECS debt was previously holding you back.

If you're unsure how this affects you, get in touch and I can work out your updated borrowing power.