Originally Posted by rowan

There's no credit scoring system in Australia, but the bank would still need proof of sufficient income over the medium term (eg two years worth of tax returns). Interest rates are around 7.5% (roughly) which means he'd be paying $1500+ a week just to cover interest, even more if it's a P+I loan. The bank isn't going to give him a loan where roughly 80-90% of his gross income goes towards paying the mortgage.