What is Dependants?
Quick definition
Dependants are people financially supported by your household, such as children or non-earning family members.
Borrowing capacityGeneral
Overview
In lending and budgeting contexts, dependants are household members who rely on applicant income for financial support.
Dependants are commonly considered in serviceability assessments because larger supported households can increase living-expense assumptions.
Definitions can vary by lender policy, but the core idea is ongoing financial responsibility for another person.
Why it matters
- Can affect assessed household expenses in borrowing-capacity calculations.
- May reduce estimated surplus income available for loan repayments.
- Helps make serviceability modelling more realistic for family circumstances.