Low doc loans for self employed borrowers
In the past, if you had an ABN number registered over two years and a good deposit of 20 per cent, you would get the loan easily by completing a self-certified income declaration.
However, this is a thing of the past and now alternative documents such as a 12-month BAS statement, a letter from your accountant confirming your income, or a three month trading statement showing high turnover, are required.
Due to the changes in legislation, lending policies to self-employed applicants are becoming more and more difficult. It is best to speak to us who specialises in low doc mortgages to find out which of the lenders will qualify you based on your individual situation, and which lender will provide you a solution best tailored to your individual circumstances