“The reality is, it has become a lot harder to secure a new home loan or refinance an existing one. Banks are scrutinising everything, whether it’s how much borrowers are spending on tolls, Netflix, or ASOS,” said Siobhan Hayden, HashChing’s chief operating officer.“This is because lenders are tightening their credit policies and shining an unprecedentedly harsh spotlight on applicants’ living expenses.“Reviewing a loan applicant’s living expenses is a rational metric to assess suitability for the loan, and doing so should provide more protections for both banks and borrowers. More from newsParks and wildlife the new lust-haves post coronavirus17 hours agoNoosa’s best beachfront penthouse is about to hit the market17 hours agoIt’s important to remember when the RBA moves to cut interest rates, there will probably be two (or more) 25bp moves. As my mate Saul Eslake once noted, interest rate changes are like cockroaches, when you get one, there is always another just around the corner— Stephen Koukoulas (@TheKouk) September 3, 2018 However, combing through living expenses is having an adverse effect on existing homeowners who would not qualify for their current mortgage today. This leaves them unable to refinance and stuck with their existing rate.She suggested borrowers and househunters seek financial advice now to understand the recent changes to lending.The Reserve Bank board meets Tuesday for its monthly monetary policy meeting, with 100 per cent of brokers expecting the cash rate target to remain on hold at 1.5 per cent.Four in five brokers believe the official interest rate will “remain unchanged into 2019”. FOLLOW SOPHIE FOSTER ON FACEBOOK All your actual spending habits from Netflix to online shopping now go under the microscope. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 9:24Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -9:24 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD288p288pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenCoreLogic Brisbane Housing Market Update – August 201809:25 One in four homeowners given mortgages last year would be rejected if they applied for the same loan this year, brokers warn. Picture: Penny StephensA SHOCK new broker survey has revealed one in four homeowners given home loans last year would fail new bank tests if they applied today. Everything from Netflix habits, to your online spending spree, and even how many times you chose to use the tollway rather than take the long way around are going under credit microscope.“Banks are reviewing an applicant’s actual expenses, rather than using the traditional household expenditure measure method” this year according to the latest HashChing broker survey.A massive 41 per cent of brokers believed a quarter of those who secured mortgages last year would not pass tougher rules around living expenses now.