Hi, I’m mindful that banks will mostly lend based on full income serviceability so including all sources of income. But I’m curious if anyone has come across alternative lenders that just underwrite based on asset level serviceability e.g. strong cashflow of property only and it may be at very low LTV?
There are a few lenders doing loans for commercial properties based just on the lease income. ‘Leasedoc’ None in the residential space that I know of. The closest would be low loc polices where all the normal expenses are calculated but the self employed income is verified alternatively. With bas statements, an accountants declaration or business banking transaction history for instance.
Certainly can be done in a personal name but will depend on the term of the loan required. Not cheap but bottom line is if it still works for you then is worth doing. Cheers