Self-employed Loans

Self-employment is on the rise. More than 10% of Australia’s workforce choose to work for themselves, with the most common industries being construction, professional services and agriculture. Many Australians are also choosing non-traditional work arrangements, such as participating in the gig economy or choosing short-term contracts over permanent employment. Despite this trend, loans can be difficult to come by with traditional lenders if you can’t show proof of steady employment and income. And if you do get offered a loan, it’s likely to have restricted terms and features – and most likely a higher interest rate as well.

That’s why we make self-employed loans one of our main areas of focus at Pointer Finance. We partner with lenders who offer self-employed people flexible loan options, so you don’t have to miss out.

Do you work for yourself?

Consider a low doc loan

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Low doc loans are specifically designed for people who can’t show proof of income in the form of regular payslips or tax returns. Instead, you can use documents like a letter from your accountant, or bank statements, to provide evidence of your ability to service a mortgage.

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One thing to keep in mind is that most lenders will offer a maximum of 80% of the purchase price, so you may have to save up a higher deposit.

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You’ll still have to do the usual things like passing a credit score check, but lenders who offer low doc loans understand that being self-employed doesn’t mean you’re a bad prospect for a mortgage.

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We’ll take you through all of the requirements, so you know exactly which documents you need to provide, and how much you’ll be able to borrow. After your loan is approved, we’ll keep an eye on market changes and keep you informed while you focus on running your business.

01

Low doc loans are specifically designed for people who can’t show proof of income in the form of regular payslips or tax returns. Instead, you can use documents like a letter from your accountant, or bank statements, to provide evidence of your ability to service a mortgage.

02

You’ll still have to do the usual things like passing a credit score check, but lenders who offer low doc loans understand that being self-employed doesn’t mean you’re a bad prospect for a mortgage.

03

One thing to keep in mind is that most lenders will offer a maximum of 80% of the purchase price, so you may have to save up a higher deposit.

04

We’ll take you through all of the requirements, so you know exactly which documents you need to provide, and how much you’ll be able to borrow. After your loan is approved, we’ll keep an eye on market changes and keep you informed while you focus on running your business.

flexible loan self employed mortgage

Speedy turnaround times

The property market waits for no-one. That’s why we offer speedy turnaround times, so you won’t miss out on the perfect opportunity.

self employed home loans self employed loans

Huge range of flexible loan options

Our broad range of flexible loan opportunities comes from access to over 50 lenders. It means we can find the right solution for whatever type of loan you need.

Support when you need it most

When it comes to property, we’ve seen and done it all. That’s what makes us so well-equipped to guide you through the process and do whatever it takes to make your experience a positive one.

Empowering you to make confident decisions

Whether you’re buying, building, or refinancing, we’ll guide you through the process and find you the best-fit loan so you can move forward with confidence.

FAQ

If you can’t provide payslips, financial statements, or tax returns as evidence of your income, then you may need to consider a low doc loan. Most people who apply for this type of loan are either self-employed, make most of their money through investment income, or they work on short-term contracts rather than permanent employment. 

Most lenders will want to see your Business Activity Statements (from the past 12 months), evidence of your registered business name and ABN, a letter from your accountant verifying your income, and statements for your business bank account. 

They may also ask you to sign a statement verifying that the income you’ve stated is accurate and that you can afford the loan. This is referred to as a ‘self-verified income declaration’.

Besides the different documents used to assess your ability to meet your mortgage repayments, a low doc loan may limit the amount you can borrow to 80% of the purchase price (instead of up to 95% for normal loans). Depending on the lender, you may also have to pay a slightly higher interest rate.

Not all lenders are willing to offer low doc loans. And some lenders do offer low doc loans, but they come with unreasonable terms. We don’t recommend these loans to our customers.

Instead, we partner with some great lenders who specialise in offering low doc loans, with flexible options to self-employed people.

We understand that life happens, and circumstances change throughout the life of your loan. We’ll keep you informed of market changes and get in touch regularly to make sure your loan is working for you. And if things change, we can help you find another solution. 

Talk to us today about how we can make your property dreams come true