Difficulty Proving Income

Have you been declined by your Bank as your income is ‘hard to prove’? If you are having trouble getting together your financial statements from your accountant there are many lending options available for business owners who have been operating for as little as 6 months.

These low doc home loans work fantastically for self-employed individuals and small business owners, developers or people with unusual income situations as we can look at your bank accounts and actual expenditure to prove income. Banks often insist on at least two years of financial accounts prepared by an Accountant. The Bank can then average the two years, making things hard – they might be looking at information that is over 2 years old! It’s not uncommon for a business to run at a loss in its first year and your financial statement can change hugely by simply investing in plant and equipment.

A lot of our clients have seasonal business or due to the nature of the business, have low personal expenses that are picked up by your business expenses. You might be in growth mode and the fruits of your labour are showing in your bank account - but not yet in your financial statement.

Low documentation loans offer:

  1. A flexible application process
  2. Application’s without using your financial
  3. A simplified application
  4. Competitive interest rates

Low Documentation loans focus on what is really happening in your business bank accounts over the last few months and we can often show that you are easily showing enough income to make the repayments on the loan. Our job as mortgage advisers is to understand your business well enough to put a strong case to the lender and negotiate for the cheapest funding to achieve your goals. We offer solutions for your first home, investment properties, or we can look to fund investment into further funding for a new business initiative.

 

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