Self Employed Mortgages

Over the last decade, self-employed and small-business owners' mortgages have grown in popularity. Rather than receiving a salary, an increasing number of Australians are choosing to work for themselves or on a contract basis with their current employers. Being self-employed has its perks. The opportunity to deduct a variety of personal costs and hence pay less income tax is perhaps the most significant benefit. The disadvantage is that proving your income can be challenging, and your tax return often shows less income after taxes and deductions. As a result, when it comes to qualifying for a mortgage, you may only qualify for a smaller mortgage amount or not qualify at all - this is where people turn to a mortgage broker.

Self-employed mortgages are a form of loan designed specifically for people who own their own business in Australia. The number of self-employed borrowers has risen to more than 20% of the population. We recognise that circumstances are changing, and we are happy to assist company owners in obtaining financing. Getting a mortgage with us can be as simple as arranging a traditional mortgage if you can show your income using your personal tax Notice of Assessment documents.

We are professionals at arranging self-employed or business-for-self mortgages at Mortgage Brokers Parramatta. We value your business and can help you get a mortgage if you're self-employed.

Getting a mortgage from a licenced bank can be challenging since they don't always "see between the lines" or assess self-employed people using common sense. Even if you have a co-applicant, such as a spouse, they will require substantial proof of income, business financial statements, tax filings, proof of future revenue, and a slew of other paperwork before you can apply for a mortgage. This does not have to be the case, and we help self-employed Australians obtain a mortgage.

There are, however, possibilities, and we provide lending solutions tailored to the self-employed. Instead than relying solely on firm financials or tax filings, approvals are based on variables like strong credit, length of time in business, and property kind and location. This gives you the freedom to get the mortgage you need to buy the house you want. As a small business owner, you put in a lot of effort, and you shouldn't be penalised when applying for a loan.