Self employed - looking for lender

Discussion in 'Loans & Mortgage Brokers' started by Adrian V, 30th Jan, 2021.

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  1. Adrian V

    Adrian V New Member

    Joined:
    30th Jan, 2021
    Posts:
    3
    Location:
    Sydney
    Hi All,

    I am looking for a lender that looks at 1 years financials only.
    My business ( Pty Ltd ) has been operating over 2 years, but this coming years income will be 40% higher that last years.

    Any suggestions, so I can look into would be appreciated.

    Thanks
    AV
     
    Adrian V, 30th Jan, 2021
    #1
  2. David R Sutantyo

    David R Sutantyo Well-Known Member

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    2nd Jan, 2020
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    65
    Location:
    Sydney
    ANZ
     
    David R Sutantyo, 30th Jan, 2021
    #2
    MC1 likes this.
  3. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    10,634
    Location:
    Gold Coast (Australia Wide)
    Comm is the most flexible in thos area we have found.

    More lenders will have policy exception flex for this year end due to covid impacts

    ta
    rolf
     
    Rolf Latham, 30th Jan, 2021
    #3
  4. Trainee

    Trainee Well-Known Member

    Joined:
    24th May, 2017
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    10,324
    Location:
    Australia
    Talk to a good mortgage broker. Seriously.
     
    Trainee, 30th Jan, 2021
    #4
    Jess Peletier and MTR like this.
  5. Tony Xia

    Tony Xia Structured Loan Advisor Business Member

    Joined:
    23rd Aug, 2015
    Posts:
    1,568
    Location:
    Bella Vista
    Anz 100% will look at 1 years only.

    Cba will take the latest year's but will still need to show 2 years as long as there's good commentary of the variance between theb2 years.
     
    Tony Xia, 31st Jan, 2021
    #5
  6. MJS1034

    MJS1034 Well-Known Member

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    26th Jun, 2015
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    Location:
    Sunshine Coast
    BankWest
     
    MJS1034, 31st Jan, 2021
    #6
  7. Redom

    Redom Mortgage Broker Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
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    Location:
    Sydney (Australia Wide)
    ANZ as policy, Bankwest, Heritage.
    If very high earning WPC Private work too.
     
    Redom, 31st Jan, 2021
    #7
  8. Adrian V

    Adrian V New Member

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    30th Jan, 2021
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    Location:
    Sydney
    Thanks all for your messages....
     
    Adrian V, 1st Feb, 2021
    #8
  9. Adrian V

    Adrian V New Member

    Joined:
    30th Jan, 2021
    Posts:
    3
    Location:
    Sydney
    I forgot to mention, do they do cash out on IP also?
    I have an IP to refinance too


     
    Adrian V, 1st Feb, 2021
    #9
  10. Tony Xia

    Tony Xia Structured Loan Advisor Business Member

    Joined:
    23rd Aug, 2015
    Posts:
    1,568
    Location:
    Bella Vista
    Yes depending on purpose
     
    Tony Xia, 5th Feb, 2021
    #10
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