What the CCCFA actually requires
The Act doesn't set hard numbers. It requires lenders to be satisfied that the loan is suitable and affordable — which is why bank assessors now go through your statements in detail.
What lenders look at
A typical CCCFA-aligned assessment will cover:
- Income reliability (PAYE, self-employed, contract)
- All recurring expenses — including subscriptions and BNPL
- Existing debt obligations (credit cards count at the limit)
- Stress-tested repayments at ~8–9%
- Dependants and lifestyle costs
How to prepare your 3 months of statements
Tidy up discretionary spending 2–3 months before you apply. Cancel unused subscriptions, pay down credit card limits, and avoid BNPL where you can.
