I’m self-employed
Lending that understands a business owner’s income.
Being your own boss should not make you a second-class borrower. The income is there; it just does not arrive as a tidy payslip. We know which lenders read financial statements properly, and how to present your position so they say yes.
Talk to an Adviser
How a self-employed application runs
-
01
Understanding the business
How you are structured, how you draw income, and what the accounts actually say about it.
-
02
Assembling the file
Financials, tax records and add-backs packaged the way a credit team reads them.
-
03
Lender selection
Placing you with a lender whose policy fits, rather than the one whose branch is nearest, to maximise your chances of getting approved.
-
04
Approval
Understanding your business is what makes the difference. Once we have been through your financials thoroughly, we present your strengths to the bank, putting you in the strongest possible position for approval.
How we present a business owner income
- Two years of financial statements, where available
- Personal and business tax returns
- Six months of business bank statements
- A current year-to-date position from your accountant
- Details of any shareholder loans or drawings
The bank is not reading your business. It is reading a form. Our job is to make the form say what the business actually earns.
Self-Employed, answered
There are lenders who will look at twelve months with a strong result and a sensible industry.
With many lenders, yes. Whether a bank counts retained profits depends on the relationship between the shareholders, so we look at how your company is owned before we approach a lender.
Expenses in your accounts that a bank can add back to your income because they are one-offs, not actual cash spent, or already counted elsewhere — depreciation, one-off purchases, interest on your home loan, home office expenses and sometimes vehicle costs. Added back, they lift assessable income.
Not because you are self-employed. Banks treat self-employed and salaried borrowers the same when it comes to pricing — what drives your interest rate is your LVR, meaning how much you are borrowing against the value of the property.
