Self Employed and Low-Doc Loans
Getting finance when Self Employed can be challenging at times.
There can be may reasons why your current lender can’t assist, and you need the help of a licensed finance broker, like:
- recently commenced business, with no financials yet completed
- low taxable income (or declared losses), or recent changes in business structure
- difficult to verify income or substantiate your income to the lenders satisfaction
- need money for expansion or some other reason.
And if looking to get a home loan, you:
- Only have Small or No deposit saved towards purchase
- Your Deposit or Savings evidence not satisfactory to your bank
- Have no records of savings over 6 month period
- Need to borrow up to 97% of purchase price
- Have Impaired Credit Rating, Defaults, Judgements, ATO payments outstanding, Arrears or Late Payments
- Bankruptcy, Liquidation or Scheme of arrangement
- Need to get a Consolidation loan to put everything into one loan and ease the payment burden
- Have a High level of borrowings/debt servicing ratio. Too many loans/cards to consolidate
- Equity in any type of Real Estate – but still can’t get a loan
And many many other seemingly restrictive or unreasonable limitations.
These and many more are situations where we have assisted our clients.