Self-Employed
When you are self-employed, getting a home loan approved can be more difficult than when you are employed by a company. Don’t stress, we’re here to help you make your property dreams a reality.
Full Doc
The first step in helping you get the financing you want is to understand how your business runs. And to understand your income, we need to understand your tax returns, profit and loss statements, and balance sheets because many businesses have complex structures and move money around for tax purposes.
This knowledge enables us to accurately present your application to the lender, giving them a complete picture of you as an applicant and increasing their trust in your ability to repay the loan. As you can see, this is far more complicated than simply obtaining the last month's payslips from a client who works for a company!
1
1
2
Low Doc
No financials, no problem - we've got your back.
In current lending world, Low-Doc lending still plays an important role. Not all self-employed borrowers can provide the most recent copies of their financial records to the bank. With Low-Doc loans you can apply for a loan without supplying recent tax returns or financial statements.
​
Other forms of income verification, like accountant's declarations, Business Activity Statements, and Business Banking Statements, to name a few, are required for these loans.
This means that even if your financials for the most recent fiscal year aren't completed, but you can demonstrate growth, sales and profitability, we can still access funding for you, so your goals aren't held back by bank finance.
​
These products are considered higher risk by the lender due to reduced income verification, hence they come with higher interest rates, a larger deposit, and Lenders Mortgage Insurance (LMI).