Self Employment Loans

Self- employed borrowers have previously found themself in difficult situation when applying for a home loan. The good news is, lenders have realised that by not having self-employed borrowers in their book, they are missing out of a big chunk of market. As such, most of the lenders now have standardised document list that cater for a range of self-employed scenarios.

It is important to note that this type of borrowing will require advance planning. For example, if past two years’ financials are required for a loan, the borrower will need to have that ready in time for loan application. We recommend that you speak to us as early in your purchase planning as possible so that we can guide you along the way.

Self-employed borrowers can apply for owner-occupier or investment loan for up to 80% of the value of the property with some of the following documents, depending on their circumstances:

  • ABN registration for at least 12 to 24 months
  • As a company (additional documents required)
  • Profit & Loss Statement for one to two years
  • Business bank statement for 6 months

Melbourne Home Lending has panel lenders who will accept ‘Accountant Letter’ as sufficient evidence of income. Speak to us about your circumstances.

***The above is a general guide only