Big life changes don't have to put a home loan out of reach, but they change how lenders look at your income. Often the timing matters most: when you apply, and what you can show the lender about your plans. This page covers the common situations, with links to the official sources.
Who this is for
- Parents about to go on, or already on, maternity or parental leave
- People starting a new job or still on probation
- Parents returning to work part-time
- Couples who are separating and need to refinance, or buy out a partner's share
Parental leave
Many people buy or refinance around having a baby. Some lenders will consider your usual income if you have a confirmed date to return to work, usually backed by a letter from your employer. Parental Leave Pay is paid at the national minimum wage, so lenders usually focus on the income you'll earn when you're back at work. Our guide on getting a home loan on parental leave covers the details.
A new job or probation
Lenders want to see that your income is stable. A new job in the same line of work is usually easier to explain than a career change. Some lenders consider applicants on probation; others want you to finish it first. Have your employment contract and recent payslips ready.
Returning to work part-time
If you're going back on fewer hours, lenders will usually assess the income you'll actually earn. Ask your employer to confirm your new hours and pay in writing, and build your budget around that figure.
Separation
Separation can affect your mortgage before any property settlement is finalised. Moneysmart's first steps are to tell your lender, review any redraw on the loan, agree how repayments will be made in the short term, and get legal advice, especially if the property is in one person's name. If you can't agree, a family dispute resolution provider can help. When you're ready to refinance or buy out a share, we can help with the loan side.
Why timing matters
Lenders have to make reasonable inquiries about your financial situation and take reasonable steps to check it. A change you know is coming, such as leave or a new role, is part of that. Talking to a broker before the change, not after, gives you more options and avoids surprises.
Guides for your situation
- Can I get a home loan on maternity or parental leave? Some lenders consider borrowers on parental leave, often using your usual income with a confirmed return date. What they ask for, and Parental Leave Pay 2026.
- Can I get a home loan on probation or in a new job? Some lenders consider applicants on probation, especially in the same line of work. What lenders look at, the documents to prepare, and when to apply.
Calculators
- Borrowing power calculator Estimate how much you could borrow from your income, expenses and debts, using the same 3% buffer lenders use.
- Mortgage repayment calculator Work out weekly, fortnightly or monthly repayments and the total interest, principal and interest or interest-only.
- Offset account calculator See how much interest your savings in an offset account could save, and how much sooner you could pay off the loan.
- Extra repayments calculator See how much interest extra repayments could save, and how much sooner you could own your home.
- Interest-only vs principal and interest calculator Compare interest-only and principal and interest repayments, and see the extra interest over the loan.
- Refinance calculator Compare your current loan with a new rate: the change in repayments and interest, and when the switching costs are covered.
- Equity calculator Work out your equity and LVR, how much equity you might be able to use, and what it could mean for buying another property or your next home.
- NSW stamp duty and First Home Guarantee calculator Work out NSW stamp duty, including first home buyer exemptions and the foreign buyer surcharge, and check the First Home Guarantee.
- Can I get a home loan? Check your situation Five quick questions on your visa, income, credit history and deposit: see what lenders usually look at for someone like you.
How MoneyGenie helps
- Talks through the timing with you before you go on leave, change jobs or sign anything.
- Finds lenders whose policies suit your situation, such as a confirmed return to work.
- Treats changes like separation with care and confidentiality, alongside your lawyer.
Nabita compares options from MoneyGenie's panel of 35+ lenders, tells you upfront which are realistic for your situation, and handles the application with you through to settlement. Our service is generally at no cost to you, as we're paid a commission by the lender, which we disclose to you upfront. Details are in our Credit Guide, available on request. Talk to Nabita: call 040 110 1608 or send an enquiry.
Call 040 110 1608 Send an enquiryFrequently asked questions
Should I tell my lender I'm going on parental leave?
Yes. Lenders must make reasonable inquiries about your financial situation, including changes you can reasonably expect. Telling them up front avoids problems later, and some lenders have policies designed for borrowers on leave.
Can I get a home loan while on probation in a new job?
Some lenders consider applicants on probation, especially if they're in the same line of work as before. Others want you to finish probation first. Policies vary.
What should I do about the mortgage if we separate?
Moneysmart suggests telling your lender, agreeing how repayments will be made in the short term, and getting legal advice, especially if the property is in one person's name. A family dispute resolution service can help if you can't agree.
Last reviewed by Nabita, mortgage broker, MoneyGenie Finance.
Official sources
The rules and figures on this page were checked against the official sources above on the review date. Government rules and lender policies change, so check your own situation with us or the relevant authority before acting.