Letter from Accountant for Home loan Pre-Approval

Hi guys,

My broker asked me to provide a confirmation letter from my accountant regarding our trading business (income less than $30k pa) eg. Debt, liability .... for our home loan pre-approval

Unfortunately, my accountant has been on holiday at the moment and will be back in 3 weeks time.

How could I obtain that letter for my home loan application. Is it possible to get it from another accountant?

Are there any other solutions

Thank you

 

An alternate option might be you sign a statutory declaration regarding the business trading status. It can depend on what the actual status of the business is, but I have had some success with this.

 

Thank you, I will try to contact few accountants in my local area. Hope they would be happy to help

 

Thank so much
I will bring it up with my broker

 

Surely your accountant has more than one person in the business who could write the letter or someone looking after his clients? What accountant goes away for 3 weeks and has no back up?

 

Unfortunately, she works on her own and there is limited receptions at where she is at.
This is something that I need to reconsider

 

You would be hard pressed to get a stray accountant to write such a letter

 

Is there any other solutions better than waiting for my accountant

 

There might be depending on the situation and the lender. First thing would be to explain to the broker that the accountant is away and ask if htere is other evidence you could supply. You could ask around at various accountants - go for the smaller sole practitioner types that are not members of the CA or CPA associations. One who is just a tax agent might be better as they don't have to consider the membership rules.

 

Thank Terry so much for this, I definitely reach out to them

 

See also this thread
Loan Tip: Lenders Requesting Letters from Accountants, Financial Planners and Lawyers Loan Tip: Lenders Requesting Letters from Accountants, Financial Planners and Lawyers

 

Your tips are always my must-read

 

They really shouldnt. They arent acting as and have not lodged returns. And must validate things they say as factual. Lenders can find such a letter even a concern and ask for extar info. I recently had one and now its stopped until their accountant actually completes work they are slowly dealing with.

Relying on a tax adviser who takes three weeks off and isnt acceptable. Thats pretty sub-standard. Even in Italy and Switzerland I was available...Within a day or two. I recall asking a client to call me and them being suproised I ask them to call at 10:30pm...when I was just getting going. I even carried my llaptop and could acess 100% of systems with wifi. I met Hamish Blake in a Rome Maccas one such time

I know MikeA also travels extensively and can be reached in most places. A desk is no longer a workplace.