The process of securing a self-employed home loans can look slightly different when you're self-employed. It is often assumed that lenders perceive self-employed individuals as a higher risk when assessing them for a home loan, whether they operate as sole traders, partnerships, companies or trusts. The variation in income and financial stability that self-employment often entails can make the application process more complex, however it is still very achievable.
Being self-employed doesn't mean you can't fulfil your dream of homeownership or property investment. It simply means that you may need to approach the application process a little differently. Despite the potential complexities, you are still eligible to purchase your own home or embark on a property investment journey.
At Beyond Broking, we thoroughly understand the process required by self-employed individuals to secure a home loan. Along with our well-established relationships with a range of excellent lenders who understand the nuances of self-employment, we can work together to offer you tailored and flexible solutions that align with your specific circumstances.
Many lenders typically request that self-employed applicants provide at least two years of tax returns to prove their earnings. However, we work with lenders who take a more flexible approach. They are open to considering alternative documentation, such as Business Activity Statements (BAS) and bank statements, to verify income levels. This adaptability makes the process more accessible for self-employed individuals who may not have the traditional employment records.
Self-Employed Specialists
We have assisted numerous self-employed individuals in navigating the home loan process, gathering the required documentation and securing competitive home loan deals.
Walk You Through The Entire Process
We guide our clients through the entire self-employed home loan process, navigating any complexities to make it straightforward and stress-free.
Access To Over 50 Lenders
We give our clients greater choice, accessing more deals and therefore able to find the most competitive rates and terms.
We understand that establishing your business takes time, and we can assist you in securing a loan even if you haven’t been self-employed for that long.
If you haven't filed traditional tax returns, we can work with you to use alternative income documentation to demonstrate your financial capacity.
Whether you need capital for business expansion or investment, we can help you access the funds you require.
Clearing outstanding debts is essential for your financial stability, and we can assist you in using your property for this purpose.
We can explore opportunities for waiving lenders mortgage insurance for qualified individuals, potentially saving you significant costs.
It is important to us that our clients remain well priced in the market all times, so we make it our responsibility to do periodic reviews on your behalf.
Here at Beyond Broking, we are well-versed in assisting self-employed individuals in obtaining home loans. Whether you're looking to purchase a new home, invest in property, or refinance your existing home loan, our expertise in self-employed home loans sets us apart. As accountants, we offer a unique perspective that enables us to understand your financial situation comprehensively.
To explore your self-employed home loan options further and benefit from our specialised insights, book a complimentary and obligation-free appointment with us today. We are here to guide you on your path to homeownership or property investment success.
When applying for a self-employed home loan, it's crucial to prepare the necessary documentation:
This information helps us to understand your financial position and borrowing capacity, whilst demonstrating to lenders your financial stability and creditworthiness.
At Beyond Broking, we specialise in helping self-employed home buyers to navigate the application process and find lender that best suits your financial situation and goals.
Here at Beyond Broking, we are well-versed in assisting self-employed individuals in obtaining home loans. Whether you're looking to purchase a new home, invest in property, or refinance your existing home loan, our expertise in self-employed home loans sets us apart. As accountants, we offer a unique perspective that enables us to understand your financial situation comprehensively.
To explore your self-employed home loan options further and benefit from our specialised insights, book a complimentary and obligation-free appointment with us today. We are here to guide you on your path to homeownership and beyond.
A self-employed home loan, much like a standard home loan, provides the means to purchase a property. The key difference lies in the upfront documentation and verification process, tailored to accommodate the unique income patterns and financial situations of self-employed individuals.
Self-employed individuals can prove their income through various documents, including tax returns, Business Activity Statements (BAS), bank statements, and financial statements. Lenders may also consider alternative income verification methods, simplifying the process for self-employed borrowers.
Yes, it is possible to secure a self-employed home loan with a shorter business history. Some lenders accept applicants who have been self-employed for as little as 12 months, provided they meet other eligibility criteria and can demonstrate their ability to repay the loan.
To boost your chances of qualifying for a self-employed home loan, it's crucial to maintain precise financial records, handle your debts responsibly to enhance your credit score, save for a significant down payment, and seek assistance from experienced mortgage brokers, such as Beyond Broking, specialieing in self-employed home loans. This expert can help you identify suitable lenders and loan options tailored to your unique financial circumstances.
We’ll need a few items from you to start the process which may include but are not limited to:
