Self-employed & business owners
You've built something, and it should count for you rather than against you. With the right preparation and the right lender, it does.
If someone has told you that self-employed borrowers can't get a good loan, I'd gently disagree. What is true is that lenders vary enormously in how they treat business income, and going to the wrong one can turn a perfectly reasonable application into a frustrating decline.
Choosing the right lender for your situation is most of the job here.
How lenders read your income
Most want two years of tax returns and financials, and they'll assess an average — which is unhelpful if last year was your best. Some lenders will use the most recent year alone where the trend is up. Some will add back depreciation, interest and one-off expenses. Knowing which does what is the difference between a yes and a no.
If you're newly self-employed
Some lenders will consider you at twelve months of trading, particularly where you've moved into the same field you were employed in. Fewer will, but they exist, and they're the ones we'd approach.
Alternative documentation
Where full financials aren't available, some lenders accept BAS statements, accountant declarations or business bank statements instead. Rates are usually higher and the terms differ, so it's a considered option rather than a default.
Get your accountant involved early
Financials prepared to minimise tax and financials that support a loan application aren't always the same document. A conversation with your accountant before lodgement — rather than after — can change what you're able to borrow.
What I'll need from you
Two years of tax returns and financials, recent BAS statements, business and personal bank statements, and an honest picture of how the business is really travelling — including the bits you'd rather not mention. I promise I've seen it all before, and it's far easier to work with the truth early than to be surprised by it later.
Been knocked back before, or expecting to be?
Tell me what happened and why. A decline from one lender says almost nothing about another.
Other situations
Buying your first home
You've saved, you've been to the open homes, and you're closer than you probably think. Let's work out exactly what's possible.
Read moreRefinancing
Your loan should still be working as hard as you are. A fresh look often frees up more than people expect.
Read moreInvestment lending
Getting the first one right is what makes the second one possible. Let's set things up so your plans have room to grow.
Read more