Mr & Mrs Chen is considering to purchase an investment property. Mr Chen is starting his own business one year ago, though the income is higher, but is not reflected from his tax return yet. Mrs Chen is PAYG income.. They plan to borrow 60% to buy this property. When they asked a bank for loan application, they were advised that Mr Chen’s income is not able to be considered because he hasn’t operating for more than 2 years. They felt frustrated when they knew this.
Solution:
Then we get touch with the clients, pay attention to Mr Chen’s business income, the business income is improving after he started his own business. According to his BAS performance, we chose a low doc lender which can consider short term self employment, and get the loan approved.
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Please feel free to reach out to our loan consultant for more information.
