Meet Youssef...

A young self-employed business owner – Youssef* is looking to get on the property ladder.

Self-employed man with beard wants to refinance to pay ATO bill

 

Background

  • He’s self-employed and has been trading for 6 months. 
  • He registered his ABN over 24 months ago.
  • Having worked hard to get his construction business up and running, Youssef is in a position to buy his own place.

 

His current situation

  • Although Youssef’s been running a successful business and has a clean credit history, his bank had refused to help him with a home loan because he’d only been operating his business for 6 months and was yet to finalise his tax returns.

 

Real life solution

  • Since he had a clean credit history, an ABN registered for at least 24 months, was registered for GST for 12 months and could supply a declaration of financial position, Youssef only needed to provide 2 forms of alternative income documentation;
    • 6 months BAS
    • 6 months BBS (inclusive of last month)
  • His broker was able to assist Youssef with a Pepper Specialist Alt Doc home loan application.

 

 

 

Broker submits scenario of client to non-bank lender

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