If you run your own business, you already know that being self-employed is brilliant and frustrating in roughly equal measure. The same goes for getting a home loan. Lenders love a tidy PAYG payslip — and a lot of self-employed people don’t have one.
The good news: there are lenders who get it, and there are loans designed for people whose income looks a bit different. We work with them regularly.
Alternative income verification
Standard loans are ‘full doc’ — two years of tax returns, notices of assessment, and clean financials. If that’s you, we proceed as normal. If it’s not, there are other paths:
- Bank-statement loans. The lender looks at 6–12 months of business and personal bank statements to assess your actual cash flow, rather than relying on taxable income (which many self-employed people legitimately keep low).
- Low-doc loans. A lighter-touch verification process, usually backed by a BAS statement or an accountant’s declaration rather than full financials.
- Specialist lenders. Non-bank lenders who understand that one bad year, a recent return to work after illness, or a brand-new ABN doesn’t tell your whole story.
ABN longevity
Most lenders like to see an ABN that’s been registered for at least 2 years and a GST registration that’s been active for a similar period. That’s the typical benchmark — not a hard rule everywhere. If you’ve only recently gone out on your own (or you’ve just changed structures), let’s talk. Some lenders are more flexible than others, especially when you’ve got a track record in the same industry.
What you’ll usually need
- Personal and business tax returns for the last two financial years, plus your notices of assessment.
- Recent BAS statements (often the most recent 2–4 quarters) — especially for low-doc or bank-statement loans.
- Business bank statements, typically the last 6–12 months.
- Details of any loans, leases, or ATO debts.
- Your accountant’s contact — sometimes a quick conversation with them smooths the whole process.
A few things to know
- Add-backs matter. Some one-off expenses (depreciation, certain one-off costs) can be added back to your income for assessment purposes. We’ll go through this with you and your accountant.
- Structuring helps. Owning the property in the right entity (personal, trust, company) can make a big difference to borrowing capacity. Get advice before you sign.
- The earlier the better. If you’re thinking of buying in 12 months, talk to us now. We can flag things to tidy up in your financials before they become a problem.
Let’s get you a yes
Being self-employed shouldn’t mean being shut out of the property market. Book a chat with James — bring whatever paperwork you’ve got and we’ll work out the rest together. If you’re not sure where you stand, the borrowing power calculator is a gentle place to start.
Estimates and general information only. Talk to James for advice tailored to your situation.