Not necessarily. Although there isn’t specific policy around this, some lenders may require that the current amount that you’re paying in rent is somewhat “comparable” to your fortnightly or monthly mortgage repayments.
This has more to do with your “capacity” or ability to afford the mortgage and banks may place more scrutiny on this if your application is tight in other areas such as your income or employment status.
Again, this isn’t strict policy so it’s best to speak to one of our mortgage brokers so we can properly assess your overall financial situation and select the lender that’s right for you.