As first revealed in The Australian, ING and Macquarie will include BNPL debts in their assessments of a borrower’s ability to repay their mortgage. has since verified this change with Macquarie Bank and ING.

“Earlier this year APRA finalised revisions to Prudential Standard APS 220 Credit Risk Management to include macroprudential policy credit measures that apply to banks regulated by APRA,” an ING spokeswoman told

“In line with the new requirements, ING has updated its credit policy to treat buy now pay later (BNPL) transactions as debt when assessing a loan application.”

In June, the Australian Prudential Regulation Authority (APRA) announced banks and lenders should apply BNPL and HECS/HELP education debts to their debt-to-income calculation (DTI).

“To ensure a consistent approach is taken across industry, APRA has clarified below that HECS-HELP loans and debt incurred through BNPL schemes would be included in DTI ratios,” the regulator outlined.

The updated guidelines were to be met by ADIs from 1 September 2022.

ING notified brokers that BNPL arrangements with an ongoing limit were to be included for loan servicing purposes.

“BNPL arrangements with a remaining term (i.e. installment plan) are to be recorded and treated like personal loans, where the amount outstanding and total monthly repayment are used for servicing,” ING's email to brokers read.

“Where a BNPL facility is short term and temporary in nature, and confirmation is provided to this effect, the commitment can be removed for servicing purposes. Please ensure this information is noted on the application.”

ING also told brokers they should include HECS/HELP debt in their serviceability assessments.

In the same week, Macquarie told brokers to update their home loan servicing and DTI ratio requirements to also include BNPL commitments.

“BNPL will need to be captured in ApplyOnline and the serviceability calculator. Our new serviceability calculator includes this BNPL update and the most recent version of the Household Expenditure Measure (HEM),” the email read.

While the changes were effective from 19 December, Macquarie has a grace period on enforcing this new rule until 3 January 2023.

See Also: What is HEM?


Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.

Update resultsUpdate
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkCompare
6.04% p.a.
6.06% p.a.
Principal & Interest
Featured 4.6 Star Customer Ratings
  • No monthly or ongoing fees
  • Unlimited free redraw
  • No application fee
5.99% p.a.
5.90% p.a.
Principal & Interest
Featured Apply In Minutes
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
6.09% p.a.
6.11% p.a.
Principal & Interest
Featured Unlimited Redraws
  • No annual fees - None!
  • Get fast pre-approval
  • Unlimited additional repayments free of charge
  • Redraw freely - Access your additional payments when you need them
  • Home loan specialists available today
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

Image by via Unsplash

Ready, Set, Buy!

Learn everything you need to know about buying property – from choosing the right property and home loan, to the purchasing process, tips to save money and more!

With bonus Q&A sheet and Crossword!

By subscribing you agree to our privacy policy