6 months ABN

Discussion in 'Loans & Mortgage Brokers' started by TheDon, 21st Dec, 2021.

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  1. TheDon

    TheDon Well-Known Member

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    Do any lenders accept sole trader income after 6months of setting up ABN at a 80% lend?
    Cheers,
    The Don
     
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    yes
     
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  3. TheDon

    TheDon Well-Known Member

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    What lender? Or type of lender?
    Cheers,
    The Don
     
  4. Tony Xia

    Tony Xia Structured Loan Advisor Business Member

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    Non conforming banks will look at it.

    Mainstream lenders may look at it (very slim chance) on a case by case dependent on prior experience and if you have a contract with the same industry.
     
  5. Lindsay_W

    Lindsay_W Well-Known Member

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    Depends, best get in touch with a decent broker
     
  6. TheDon

    TheDon Well-Known Member

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    Will they look at the 6month income as the whole years income? Or will it be pro rata ?-eg 50k in 6months is 100k for the year
     
  7. Tony Xia

    Tony Xia Structured Loan Advisor Business Member

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    Case by case.
     
  8. Lindsay_W

    Lindsay_W Well-Known Member

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    Depends, best get in touch with a decent broker