Self Employed Loans
Are you self employed and sick of being stuffed around by lenders that don’t understand?
We can Help you
Self Employed people are the backbone of Australia, they work hard and want someone as professional as themselves to look after the loan stuff. If you are self employed, no doubt you have found an accountant that is very good and can minimise your tax each year, but this is often interpreted by banks that you don’t earn enough money for a home loan and problems arise.
We are here to help, most of our mortgage brokers are university qualified and understand accounting and can easily read and understand the tax returns and financials that your accountant has provided. We can effectively reverse engineer what the accountant has done to show lenders that a self employed home loan is achievable. We understand sole trader, company structures and family trusts and can explain to banks how moving from one of these to another does not means you changed jobs. We understand what it means to be self employed and are here to help.
One of the first steps toward a self employed home loan or factory loan is an analysis of your tax returns and financials. Often people feel these do not show a good enough situation and yet with a little work they are fine, and a lower interest rate loan can be achieved. Should for any reason these not be available we have many lenders that will look at recent BAS and bank accounts to provide self employed home loans or factory loans. As a final alternative, particularly for newly established businesses, we have lenders that will accept an accountant and applicant declaration of income for a loan. This last option is known as a low doc loan and can be done for both residential and commercial properties. Generally speaking, they need a bigger deposit and have a higher interest rate, but at Davies Home Loans, our mortgage brokers will keep in touch and as soon as tax returns are viable, we will help you negotiate a better rate and transition your loan to a better deal.
We are with you for the life of your loan and here to help with information on all types of loans from property to chattels