CBA tightens mortgage expense checks

Via the AFR:

Commonwealth Bank home loan applicants will from next week be subject to two rounds of detailed quizzing about their weekly spending on everything from school fees to gym memberships, children and pets. The formal categories cover:

1. children;
2. pets;
3. clothing and personal care;
4. communication;
5. education;
6. food and groceries;
7. housing and property expenses;
8. insurance;
9. medical, health and fitness;
10. recreation, travel and entertainment;
11. transport and auto.

This is in addition to tough financial screening the bank requires a mortgage broker to undertake on their clients during a preliminary assessment of their capacity to service a loan.