Aaron WhybrowGeneral Manager, Strategic Mortgage Broker

New Poilicies are out

Name: New Poilicies are out
Uploaded: 2022-06-10T05:42:43Z
Channel: Aaron Whybrow
Description: New lender policies now let self-employed borrowers refinance owner-occupied property and access cash-out using director wages, pay slips, and accountant…

10 Jun 2022

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New lender policies now let self-employed borrowers refinance owner-occupied property and access cash-out using director wages, pay slips, and accountant declarations to verify income. You can be assessed like a PAYG employee and separate personal and business finances.

Just got a client nearly ready to settle. It was a refinance of an owner occupied property to be able to get some cash out to buy a block of land that's coming up for registration in a few months. This person was self employed and we were able to use the new policies that have come out where we can use directors wages and use the pay slips and look to getting the accountant to declare when the business was open and how and that can continue to pay the wage and also cover its own expenses. So if you're self employed and you want more minimal documents, supporting documents or to treat yourself as if you are payg or use your income versus looking at your company, we can have a look at that. And there's a few lenders that are actually doing this type of borrowing right now and it actually works really really well to be able to not only help your personal life but also isolate your business life to where you need to have it. All right. If you're in the market to need to get simple verification on your self employed borrowing, reach out today.