Self Employed Home Loans

If you’re self employed, you’re probably used to getting things done. You know how to get organised, get moving and accomplish your goals. But when it comes to applying for self employed home loans, you may find that things aren’t quite as simple as you’d first imagined. It may even seem like there are a lot of additional hoops you need to jump through to secure a self-employed loan in Brisbane. But don’t let that deter you! Not all self employed loans seeker will struggle to obtain finance and the experienced team at North Brisbane Home Loans are here to help you.

Self Employed Home Loans – How To Get A Mortgage

North Brisbane Home Loans has over 100 years of combined experience in securing home loans for self employed borrowers. We know that, as a self employed borrower, you won’t have the exact same paperwork on hand as the average person who works for an employer. We know that there are certain lenders who are more favourable towards self employed borrowers and others who may judge a self employed home loan application more severely. And we know how to present your circumstances in a way that will lead to a fair and accurate assessment of your application. If you run your own business and are looking to buy a home or investment property, talk to one of our self employed mortgage specialist.

Our team of self employed mortgage brokers understands that self employment is something to be proud of and we’re committed to helping self employed borrowers achieve their home loan goals.

What are the Benefits of Using a Self Employed Mortgage Broker for Home Loans?

With experience in running your own business, you may question whether you actually need a self employed mortgage broker. After all, you’re smart, savvy and you know how to do research, decipher paperwork and make big decisions. But when it comes to applying for a self employed home loan there are many benefits to partnering with a mortgage broker, which include

1. Presenting your application in a positive light

When it comes to applying for self-employed loans, it’s not just the information you present that’s important…it’s also how you present it. An experienced mortgage broker will know how to organise your business and personal financials in a way that is simple and easy to interpret. If necessary, they’ll even get on the phone and walk the loan assessor through your application step-by-step. This ensures that you don’t just get a mortgage approval, but that you get approved for the right amount to suit your true circumstances.

2. Preventing costly mistakes

Your mortgage application may be assessed by someone with very little experience in deciphering complicated tax structures and irregular income streams. As a result, you could end up paying a lot for someone else’s mistake. The most common issues that arise with a loan application for a self-employed borrower are double-dipping (where an expense is accidentally counted twice), misunderstandings surrounding company vehicles (forgetting about tax deductions), and avoidable delays (slipping your application into the “too hard basket”). An experienced broker can help prevent these mistakes from occurring.

3. Thinking outside the box

If you’ve googled ‘self-employed home loan’ then you’ve probably come across numerous recommendations for ‘Low Doc’ or even ‘No Doc’ home loans. For some self employed borrowers, this can be a good option. But it’s not necessarily your only option. Partnering with a mortgage broker will help you to think outside the box of ‘self employed home loans.’ Your broker can assess your unique situation and then make a recommendation based on what will best suit you – not just what would best suit ‘most’.

4. Having a loan set-up that suits you

Mortgage products can be structured in numerous different ways and can come with varying features attached. A mortgage broker will be able to help you structure your home loan in the way that best suits you and that will be most beneficial for your business. This could include cash-flow allowances and useful tax considerations. Retrofitting these kinds of details can be difficult and costly, so it’s worth getting things set up right from the very beginning.

5. Talking to someone you can trust

Mortgage brokers are regulated by legislation known as ‘Best Interests Duty’. In a nutshell, this means that a mortgage broker is legally required to assess your personal circumstances, do research and then make a recommendation about which loan product they think will work the best for you. In complying with ‘Best Interests Duty’, a mortgage broker will always act in your best interests. So, you can trust that a mortgage broker is telling you the truth and working hard for your benefit. ‘Best Interests Duty’ does not apply to banks, meaning that, should you choose to approach a bank directly, they are fully within their rights to act solely in their best interests.

7 Tips for Self Employed Home Buyers in Brisbane

As a self-employed person If you are seeking the best home loan then here are the top 7 self-employed home loan tips for home loan buyers in Brisbane, Australia.


Get into the habit of paying your bills on time

This may not sound that important but paying your bills, credit card or other loans late can have a huge impact on your home loan eligibility. In contrast, building up a history of consistent bill payments will help demonstrate to lenders that you’re conscientious, reliable and can be counted on when it comes to making repayments.


Get your paperwork in order

Nothing delays a self employed home loan application like disorganised or incomplete financial records. Start by making sure you’ve completed your tax returns for the past two years (both business and personal) and by arranging your financial records so that they’re easy to access and interpret.


Don’t over-complicate things

Most lenders prefer things to be simple and straightforward. If you have a lot of complex tax strategies or convoluted lease arrangements in place, then it could make things harder for you when you decide to go ahead with applying for a home loan. Wherever possible, keep things uncomplicated and presented in a way that is easy for your broker and then your lender to understand.


Do a credit check

A credit check is an important part of any mortgage application process since this will identify any potential red flags or possible errors on your record. Once you’ve obtained a recent credit report (you’re entitled to one free report every 12 months) then ask your mortgage broker to help you do a complete evaluation of the details. For more information on how to check your credit score, visit the Australian Government Money Smart website.


Talk to an experienced self employed mortgage broker

When it comes to applying for a self employed home loan, you don’t have to do things on your own. Talking to a broker who has plenty of experience in handling self employed loan applications will make things easier for you and will improve your chances of getting the best possible home loan to suit your specific needs. Your mortgage broker can give you tailored advice and make practical suggestions, even if you’re not planning to apply for several months yet. In fact, the earlier you talk to a self-employed mortgage broker about your plans, the easier the process is likely to be once you’re ready to move forward.


Be open to suggestions from your mortgage broker

Once your mortgage broker has fully reviewed your current financial situation, they can then start making recommendations. You may be surprised if they don’t suggest the particular product or lender that you had in mind but try to stay open to considering all your available options. For example, your broker may recommend that you apply for a low doc self-employed home loan. Or they may suggest a lender that you’ve never heard of before. Remember that your mortgage broker has years of experience in achieving desired outcomes and is working in your best interests. So, if they tell you something is a good idea, you can trust them!


Consider the timing of your self employed home loan application

After initial discussions with a self-employed mortgage broker, it may become clear that you would be better off delaying your mortgage application for a short time. If you’ve only recently started your business or if cash-flow is really tight then waiting a few extra months could make a big difference to the final outcome. You may find that holding off that little bit longer will result in your being eligible for a much lower interest rate or a more suitable mortgage product with a better range of features for you and your business.

Home loans lenders often require additional paperwork if you’re self-employed, and you may need a larger deposit to secure finance. Let the professional mortgage brokers at North Brisbane Home Loans help you find a self employed home loan to suit your needs.

Why Choose North Brisbane Home Loans?

5 Star Rating

We put you first and genuinely want to help you achieve your property ownership dreams with the best value self employed loans.

We have hundreds of happy customers, find out what they’ve said about working with North Brisbane Home Loans here.

Experienced Mortgage Brokers

With more than 90 years of combined experience in the industry, we can confidently offer you the best advice when it comes to finding the best home loans for self-employed.

We Work For You – Not The Banks

We don’t charge any fees for our self employed loan services, our commission comes from the lender.

So we’re by your side every step of the way to ensure you select the best self employed loans for your individual circumstances.

Exclusive Partner Network

Not only do we provide you with the best advice on your home loan needs, we also introduce clients to our network of trusted partners offering discounted rates.

Save time and money searching for reliable building and pest, real estate agents, solicitors and more.

5.0 Star Reviews from Self Employed Home Loan Borrowers


Tim KeleherTim Keleher
04:40 29 Nov 23
Easy and stress free . My wife and I have used Patrick a number of times and this time was no different to other experiences with him. He was always on hand to answer any questions and put our minds at ease. Patrick’s technology based approach made getting all our documents from our existing bank accounts into a format required for reviewing was brilliant to use. Anyone considering a new loan I would highly recommend Patrick Cranshaw and his services.
Adrian GirgentiAdrian Girgenti
23:45 16 Nov 23
Wonderful experience with Pat, Fiona and the team at NBHL. As a first home buyer, they made it simple for me to understand and were very responsive to my questions and concerns. Thank you!
Lauren MaidensLauren Maidens
10:56 09 Nov 23
Aidan CuretonAidan Cureton
04:41 08 Nov 23
Pat and his team were a pleasure to work with while we were looking for our first home. I want to pay special thanks to Jake, who truly went above and beyond for us and was always happy to answer our questions (which there were many of)
Emilie GehrkeEmilie Gehrke
02:14 07 Nov 23
The team at NBHL have been amazing throughout our whole time with them. As first home buyers they’ve made the process a lot more easier & stress free. Huge thanks to Pat & Fiona!
Brittany AdamsBrittany Adams
12:09 19 Oct 23
Thank you Patrick, Di and team. We really appreciate all the help and information you provided us with our first home loan. NBHL made the process simple and easy to go through. You and your team were very quick to answer any queries we had and easy to get in touch with. We will definitely be using the NBHL team again in the future.I recently had the pleasure of working with Patrick again after 3 years for our refinance, and I couldn’t be happier with the experience. Patrick, Jake and the whole team were extremely knowledgeable, professional, and patient as we navigated the whole process. They took the time to understand our needs and preferences, and found us the best suited option. The use of their portals to upload information and documents is a game changer! I would also like to mention the articles in the monthly newsletters are quite in depth and have been incredibly insightful. I have highly recommend Patrick and NBHL to friends, family and colleagues. See you next time! Cheers!
Nicola BarnesNicola Barnes
22:10 12 Oct 23
Fantastic support and experience! . My partner and I loved our experience with the Brokers, they were always knowledgeable, supportive and friendly in all communications. We were a little sad to stop our regular catch ups once we had our new home!
Trish CatleyTrish Catley
04:04 12 Oct 23
I can not recommend Pat and his team enough!They went above and beyond to help us get our loan at the best deal and worked around the clock for usCannot thank then enough!
Annaliese Jade HAnnaliese Jade H
07:11 10 Oct 23
Pat and the NBHL team are so helpful and easy to deal with. I used them for my first home purchase a few year ago, and recently for a refinance. Both times they were responsive and proactive, and able to answer all our questions in easy to understand terms. I won't hesitate to use them again next time
Ellen JenkinsEllen Jenkins
09:35 07 Oct 23
Pat and his team were fantastic to deal with for the purchase of our first home. Not only were we guided to a great rate, the hassle and stress was minimised greatly! Thanks NBHL, we’re super excited to be in our first home with your assistance.
prakash nprakash n
02:43 03 Oct 23
The best mortgage broker I have dealt with. My application was not straight forward due my partner is on a different visa. I did try few other brokers before I reached out to NBHL, none of them had a correct approach or answers for my situation. But Patrick and team have experience dealing with similar situation to mine, he took time explaining every single possibility and how to approach them.Any issues you come across, they will know how to handle it.Would definitely recommend to friends and family.
Amara NAmara N
05:38 29 Sep 23
I can highly recommend Pat Cranshaw and his team for prompt, honest and professional advice. I very much appreciated Pat's knowledgeable advice on refinancing my home loan . Thank you and best wishes to Pat and his team.
Russell VosselerRussell Vosseler
08:36 25 Sep 23
Pat, Jake & their team are absolutely great at securing the best rate. I have been using them for many years now, and always consult them for refinancing every 1-2 years to check what is the best rate available to me. They are able to negotiate much better rates with the banks than if you go to the banks directly.
Lloyd FinucaneLloyd Finucane
04:48 19 Sep 23
Without pre-approval, Pat and Jake allowed us to buy ourselves the house we wanted. They managed to get us financial approval with a lender perfect for us in only 6 days.We are very happy with our experience and would recommend others to use NBHL when looking for a fast and easy borrowing experience.
Shane ClarkeShane Clarke
09:40 14 Sep 23
Highly Professional and helpful. I would highly recommend Pat and his team!! Our situation was slightly complex, however they guided us through the process and were able to achieve a successful outcome.Their professionalism and communication with us were of the highest order. I would highly recommend Pat to anyone looking for a homeloan!!
Bernadette GilliesBernadette Gillies
00:19 13 Sep 23
Seamless from start to finish! Pat and his team were amazing. The whole process was so easy and painless. The application process was seamless from the upload of supporting docs right through to the actual signing of loan application and mortgage docs. Pat and his team were there to support us every step of the way with regular contact and simple explanations. I can’t thank them enough.
Carolyn RCarolyn R
11:59 12 Sep 23
I can’t thank the team at North Brisbane Home Loans enough for getting my home loan unconditionally approved today after an unexpected last-minute hiccup. From the very first call I had with Pat, talking me through the process and various options, to liaising with Di and Jake through the pre-approval process and then having Fiona on speed dial over the past week or so, answering all my calls and diligently working to get full approval while up against the clock - everything was done promptly and efficiently, with all communications clearly setting out what was required at every stage to make the whole process seem less daunting. Nothing was too much trouble for this friendly, helpful, calm-under-fire, amazing team. Woohoo! Thank you, thank you, thank you! Team work really does make the dream work and NBHL are the dream team. Thanks again!
This is the second time we have used Pat and the team; this most recent venture was exceptionally complicated, daunting and stressful. However Pat and Jake almost made it simple. They responded to my 1000 panicked emails with patience and clarity, never sugar coating anything. All the legalities were made transparent and easy to understand. We are so happy to say as from today, this amazing team of professionals played a very big part in bringing a very traumatic previous 18 months for our family to an end, with our new home purchase becoming unconditional literally hours ago. We can't thank them enough, it's been a long journey, but we made it thanks to them. If there was an option to pop down 10 stars, we wouldn't hesitate. Thanks, NBHL
Danielle SwannDanielle Swann
06:28 26 Aug 23
Very helpful. Patrick was very professional and easy to deal with, and I felt that I could ask all the silly questions during the home loan refinancing process and get real answers and still be taken seriously. He took his time to explain my different options thoroughly, and made the process as smooth as possible once a decision had been made.
Sarah KolkkaSarah Kolkka
05:12 23 Aug 23
10/10 recommend. Pat recently helped my husband and I remortgage our home and the whole process was simple and effortless. I always felt like Pat and his team were working hard for us and we were looped in through the whole process. Would absolutely recommend 🙂
Nathan GerchowNathan Gerchow
00:11 21 Aug 23
Reanna HarperReanna Harper
00:42 11 Aug 23
Exceptional Broker and Team - Honest, Prompt and Realistic. Highly recommend Patrick and the Team he works with. Our trusted broker that we go to repeatedly for mortgaging and refinancing. Always honest and seeks products that fit primary needs, plus offers valuable and realistic advice. The only broker we refer our friends and family to! Always in touch with us on time, made refinancing easy, friendly and upfront - every member of the Pat's team answered all our questions and laid out the steps ahead well in advance of settlement. Refinancing couldn't have gone any smoother! Only praise to share. We will continue to use Pat indefinitely.
Chloe SChloe S
07:13 10 Aug 23
00:16 10 Aug 23
Great experience
Gavin ShieldsGavin Shields
23:09 08 Aug 23
Excellent customer service, advice and attention to detail.Have now used NBHL for re-financing our home loan and to purchase our investment property. Can highly recommend.
Johan Van ZylJohan Van Zyl
21:50 24 Jul 23
Luke was great. Very professional. Recommend NBL services.
Kallum FrancisKallum Francis
11:42 24 Jul 23
Luke and the team at NBHL were a pleasure to deal with throughout the entire process of buying our first home. Luke was always contactable and made the effort to answer all our queries promptly and simplify the entire journey. As first home buyers we couldn't imagine buying without the help of such a knowledgeable team that has put a great emphasis on customer care.
Royce khanRoyce khan
06:27 04 Jul 23
I am writing to express our sincerest gratitude for the exceptional assistance you provided us in navigating the complex process of securing a home loan. Your professionalism, clear communication, unwavering transparency, and adept use of technology truly set you apart.You consistently ensured that we understood each step of the home loan process. Your ability to explain complex financial terms in a simplified manner made us feel confident and empowered in making informed decisions.Moreover, your expertise in utilising technology to streamline the loan application process was truly remarkable. From secure online document submission to virtual meetings, you effortlessly incorporated modern tools into our interactions. This not only saved time but also demonstrated your commitment to staying at the forefront of industry trends, ensuring a smooth and efficient experience.Once again, thank you for everything you have done. I wish you continued success in your endeavours, and may your expertise positively impact many more individuals like myself.Well done Team North Brisbane Home Loans!!
E ViennetE Viennet
22:01 26 Jun 23
6 years ago we used NBHL service to buy our house/land package as a first time owner in Australia. Pat, Di and the team have been really professional. Everything went so smoothly. A month ago, we contacted NBHL to discuss any possibility to buy an investment property. Luke has been awesome, and went through all the options in details. Here, again the communication was great and everything went smoothly. Highly recommended.
Nicholas ThorburnNicholas Thorburn
03:24 24 Jun 23
Hassle-free re-finance. Pat and the team from North Brisbane Home Loans made our complicated re-finance very easy. The team go out of their way to ensure a smooth loan application/transfer process. Second time with this great experience from the NBHL team, highly recommended.
Alicia PharoahAlicia Pharoah
06:19 15 Jun 23
Friendly, professional service for expat loan refinancing. Pat, Di and team were incredibly helpful, patient, and flexible while finding an Aussie non-resident refinancing solution for me. These days that is no easy task!They kept me informed at every stage of the process from the solution hunting, to the decision making and throughout the closing process.Their services were invaluable and I couldn’t recommend them highly enough.
Just TeenzJust Teenz
01:23 11 May 23
I contacted Pat at North Brisbane Home Loans based on their reviews. From the minute I spoke with Pat I felt at ease with his knowledge, experience, friendliness and felt straight away that he had our best interests at heart.Pat, Di and the team at North Brisbane Home Loans are so lovely and took away a lot of the stress of the whole process by communicating regularly and by explaining in detail all answers to any questions we had. They guided us through every step of the way and now thanks to the team we are in our dream home.Thank you all so much, we are over the moon!10/10 recommend!
Celene KeepenceCelene Keepence
23:28 23 Mar 23
Pat, Di, and the team at North Brisbane Home Loans are fantastic. They supported us every step of the way in our home loan application/home buying journey, and we couldn't be happier with the service recieved. They made the process so easy for us and we will definitely use their services again. We highly recommend!
Hayden MeyersHayden Meyers
05:52 12 Feb 23
The team at North Brisbane Home Loans were phenomenal from the very first point of contact. Pat was amazing in taking us through a step by step guide on how to purchase our first home!They were extremely responsive throughout the entire process with consistent and reliable communication.Would recommend to anyone looking to get into the market with a knowledgeable Broker!Thankyou.
Laura Cromb-SmithLaura Cromb-Smith
06:47 27 Dec 22
The most amazing service from Pat & Di at NBHL. Their expertise and patience throughout the entire process made it feel easy to buy our first home. Their guidance and support was immeasurable and we couldn’t have done it without them!Thanks to the team at NBHL for everything.
Katie ChittendenKatie Chittenden
02:05 01 Dec 22
Fantastic mortgage Broker!We used Pat and his team when we originally bought our first home back in 2017, and they were so fabulous that we went back to them this year (2022) to re-mortgage and change up our home loan. They do a wonderful job - great communication and dedication to get you the best rates possible. They also fix any mistakes the bank makes for you, quickly and efficiently. Can't rate them high enough, we will definitely be going back to them in the future.
Betty VisensangBetty Visensang
21:18 23 Oct 22
Knowledgeable, Professional and CalmBack in 2021 a colleague referred me to Patrick, we weren’t ready to buy yet but wanted to meet Pat as he had helped my colleague with his family home, plus 2 additional investment properties. My colleague was so impressed by the services offered by Pat that I had to meet him for myself! He didn’t disappointment, we decided after our first meeting on a plan and locked in to touch base again in a years time!1 year later, everything was in place and Pat helped us put everything in place and we are now proudly living in our new family home!Many healthily conversations were had, and Pat is really knowledgeable but we also appreciate his cool and calm manner.We will not hesitate to refer him and North Shore Home Loans to friends and family. We will also definitely be reaching out again when we expand our investment portfolio in the future.
Brianna DobingBrianna Dobing
09:46 09 Jun 22
We had a great experience with North Brisbane Home Loans. Our broker was Luke and he was excellent in listening to what we needed and providing us with loan options that would work for our situation. We liked the videos they provided explaining the product options and recommendations. Being able to watch the videos in our own time was helpful. Fiona was amazing in collating all our information and documents and working with the bank once we did find a house. The communication and customer service was superb. I would recommend NBHL.
Rachael WishartRachael Wishart
09:28 25 May 22
The team at North Brisbane Home Loans were phenomenal from the very first point of contact. Luke was brilliant in taking us through a step by step guide on how to achieve our goals, provided us with useful resources, and was very willing to answer all questions we had as first home buyers. We had a tight settlement timeline and the team (Luke and Fiona in particular) made it appear effortless. They were extremely responsive throughout the entire process with consistent and reliable communication. We could not recommend NBHL highly enough!
Trish ChandTrish Chand
06:37 14 Mar 22
My husband and I are grateful to Luke, Fiona and the team at North Brisbane Home Loans they are absolutely brilliant to deal with.We had a very pleasant experience with Luke he took the time to investigate several different scenarios to get us the best possible product and solution. Luke and Fiona were very responsive to our queries even calling after hours when necessary. While we were first time home buyers they reassured us every step of the way, confident in their advice and decision. Their patience and willingness to walk us step by step each process over the phone was greatly appreciated.Overall a very efficient and professional organisation you won’t be disappointed.
10:57 06 Sep 21
I had an absolutely amazing experience with North Brisbane Home Loans. I was able to buy my first home with the advice, help and professional guidance of Pat and his team. I was very well looked after from the minute I reached out. Everything was handled in a very friendly, professional and timely manner. Whenever I was worried, unsure or needed assurance I was replied to promptly with everything I needed to know. The team were even willing to drive to my workplace to ensure all of my documentation could be signed and submitted promptly. I cannot recommend them enough!

Contact North Brisbane Home Loans

If you’re looking for a self employed home loan, contact the highly experienced self employed mortgage brokers team at North Brisbane Home Loans today.

Frequently Asked Questions About Self Employed Home Loans

Will I have more trouble getting a home loan if I’m self employed?

It certainly used to be more difficult for a self employed person to get a home loan, but thankfully, this no longer has to be the case. Being self employed has become increasingly common in Australia, with 2.1 million registered business owners and 1.2 million sole traders. As a result, more lenders are coming to appreciate the unique situation that self employed borrowers find themselves in. The key difference in applying for a self employed home loan these days is that you’ll be asked to present your tax returns as proof of income, rather than paperwork from an employer. To give yourself the greatest chance of success it’s a good idea to team up with a broker who has experience in submitting self employed mortgage applications.

Is there a minimum amount of time I need to have been self employed before I can apply for a mortgage?

Most lenders prefer for a self employed borrower to have been in the same situation for at least two years (as this means they can provide two full years’ worth of tax returns). However, some lenders will consider applications from individuals who have been self employed for less than two years. These lenders specialise in helping shorter term self employed clients, however the deposit amount required is normally higher as is the interest rate.

I’ve only been self employed for one year – is it worth applying for a home loan?

If you’ve been self employed for less than two years then contact one of our brokers to find out what options could be available to you. Some lenders may assess your eligibility based on how long you’ve been working in a particular industry as opposed to solely how long you’ve been self employed. For example, if you worked as a mechanic for six years as an employee and you’ve now been working as a self employed mechanic for over a year, that may increase your eligibility in the eyes of some lenders. Other lenders may consider applications that come with a deposit of at least 20% of the property price. But individual circumstances will vary and the best course of action is to speak directly with a mortgage broker.

How will my income be assessed for a self employed home loan?

Most lenders will want to see your tax returns for the past few years, rather than proof of a weekly or monthly income. This is good news for self employed borrowers who may experience a more erratic income schedule. In some situations, a lender may also ask for BAS statements or bank statements.

What is a Low Doc loan?

Low Doc loans are a specific type of mortgage product designed for borrowers who don’t have a lot of the traditional supporting documentation typically requested by lenders. They first appeared on the mortgage market in the late 1990s and were offered by non-bank lenders to people who would struggle to qualify for a home loan based on the standard lending criteria. Low Doc loans gradually became more of a mainstream product, and today they are available from most of the big lenders, including the major banks. Low Doc loans can be a great solution for self employed borrowers, but they may also come with higher interest rates or require a larger deposit.

What are the most common application issues with self employed home loans?

Self employed home loan applications can encounter a range of issues, but the most commonly encountered ones include:

  1. A successful business with a clever accountant (where your business is performing better than it appears on paper).
  2. Applicants who have been self employed for less than two years continuously.
  3. Rapid expansion of the business (resulting in raised eyebrows and a lot of questions from the bank).
  4. Banks basing their assessment off the lowest figure shown in your tax returns, not the most recent.

If any of these situations apply to your business then don’t give up hope – many of these issues may be overcome by working with an experienced broker.

What should I know about add-backs?

As part of the overall assessment of your self employed mortgage application, a lender will take into consideration any unusual expenditures that don’t make up a regular part of your business expenses. This could include the interest you’ve paid on a business loan, depreciation on assets, company vehicle expenses or even additional contributions you’ve made towards your superannuation. Why are add-backs important? Because some lenders will ‘add-back’ the sum of these expenses to get a more accurate idea of your income – but others won’t. Correctly identifying and presenting add-backs can play an important role in determining whether or not a self employed mortgage application is approved.

My cash flow is a bit irregular – will this be an issue?

Don’t worry too much about irregular cash flow. Most lenders now appreciate the fact that when you’re self employed you’ll typically go through a cash flow cycle of feast and famine. This is why it’s important to have your tax returns in order – so that lenders can assess your annual income rather than a weekly or monthly income. But if you have experienced any major fluctuations in income then it helps if you have a reasonable explanation of why.

What else should I know about applying for a self employed home loan?

Applying for a self employed home loan doesn’t have to be stressful. It doesn’t have to be complicated. And it doesn’t mean you have to settle for higher fees and less competitive rates. Start by talking to a mortgage broker who has plenty of experience in working with people who are self employed. They can work with you throughout the entire process to ensure that you achieve the best possible result for your particular circumstances.

Book A Free Self Employed Home Loan Consultation

To book a free Self Employed Loan consultation, or for expert mortgage broker advice to help you buy your first home, contact the team at North Brisbane Home Loans.



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