Self-employed? Your home loan shouldn’t be harder because of it.

Common situations, and how we approach them

Borrowers often come to us after a bank said no or asked for more than they had. Here is how we would look at four typical cases.

• Contractor

  Declined for not enough documents

  The situation

  A contractor on an ABN was declined by a bank that wanted more income documents than they had after two years in business.

  How we would approach it

  We look at lenders that accept alternative documentation and explain the trade-offs, such as the deposit needed and how pricing can differ.

• Business owner

  Low taxable income, lower borrowing power

  The situation

  A business owner’s taxable income was low because of legitimate deductions, so a bank assessed their borrowing capacity lower than expected.

  How we would approach it

  We present the income with allowable add-backs, such as depreciation, to lenders whose policies consider them. Not all lenders do.

• Shop owner

  Under a year of trading

  The situation

  A café or pizza shop owner trading for under a year was declined by banks that wanted two years of financials.

  How we would approach it

  We look at lenders with short-ABN or alternative-documentation policies and explain the eligibility requirements, which vary and are not guaranteed.

• First home buyer

  Thought the deposit was out of reach

  The situation

  A first-time buyer assumed they needed a much larger deposit and that owning a home was years away.

  How we would approach it

  We explain government schemes that may be available (eligibility and lender participation apply) and how stamp duty concessions work, so you can plan realistically.

Swipe to see more

Illustrative examples only, based on typical borrower situations. They do not represent specific clients or results. Outcomes depend on individual circumstances and lender criteria and are not guaranteed.

See all example scenarios