Where you buy generally doesn't change how much a bank will lend you. Lenders apply the same guidelines on loan-to-value ratios and serviceability whether the property is in Southeast Queensland or Tasmania, although growth prospects may differ. Your age can matter more: lenders look at how many working years you have left, so a buyer in their 60s purchasing a home to live in may be offered a shorter term (say 15 to 20 years) than the usual 30.

In this video, McKern mortgage broker Mark Jones explains how location and life stage affect borrowing, including why investment property loans can be easier for older borrowers: there's a clear exit strategy, because the investment can be sold to clear the debt while you keep your own home.

In this video

0:00 Does location affect how much you can borrow?

1:03 How your age affects loan terms

1:41 Older borrowers and investment property

General information only, not personal advice.