Tag: Income Verification & Documents
All the articles with the tag "Income Verification & Documents".
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The Difference Between a Letter of Employment and an Accountant's Letter for Self-Employed
The pool of self-employed home buyers who cannot produce a consecutive run of PAYG payslips has spent much of 2024 watching their borrowing options narrow. N…
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Using Business Income Projections for a Start-Up Alt-Doc Home Loan
The past 18 months have peeled away much of the cushion that once made self-employed home lending a straightforward proposition. When APRA formally withdrew…
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Can a Trust Structure Borrow Under Alt-Doc Conditions? What Lenders Require
As the Reserve Bank held the cash rate at 4.35% for a ninth consecutive meeting in March 2025, the convergence of the highest borrowing costs since 2011 and…
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Which Lenders Accept a BAS Statement as the Sole Income Proof for an Alt-Doc Loan?
The self-employed mortgage market entered a new phase in the first quarter of 2025, when three non-bank lenders revised their credit manuals to treat a singl…
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Does BAS Lodgement Frequency (Quarterly vs Monthly) Affect Loan Approval?
When the Reserve Bank lifted the cash rate to 4.35 per cent in November 2023 and held it there for over a year, non-bank and specialist lenders began retesti…
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Using an Accountant's Letter for a Self-Employed Construction Loan: What It Must State
For the 2023–24 rate cycle, self-employed borrowers chasing construction finance have been pushed into a corner neither the Reserve Bank nor APRA has express…
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Splitting Partnership Income for a Joint Home Loan Application: What Lenders Accept
The Australian Taxation Office’s updated Practical Compliance Guideline PCG 2024/1, released 1 July 2024, marks the most significant shift in how partnership…
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Using Business Bank Statements Instead of Personal for Cash Flow Lending
Since October 2024, the non-bank lending sector has been re-pricing risk around self-employed borrowers at a speed the major banks have not matched. That mon…
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How an ABN Confirmation Letter from Your Accountant Supports a Loan Application
The Reserve Bank of Australia’s first cut in more than a year—a 25‑basis‑point reduction to 4.10% on 18 February 2025—reopens borrowing headroom for the self…
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Using an Accountant Declaration as the Core Document in an Alt-Doc Application
The formal cash rate has sat at 4.35% since November 2023, the longest plateau since the RBA’s tightening cycle began in May 2022. For self-employed borrower…
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How Lenders Verify Dividend Income for a Company Director Applying Without Payslips
As the Reserve Bank of Australia held the cash rate at 4.35 per cent for a sixth straight meeting, the spotlight on self-employed income verification has mov…
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Does GST Registration Over the $75,000 Threshold Improve BAS Loan Eligibility?
From 1 July 2024, the ATO-lifted GST turnover threshold to $100,000 has reset the calculus for self-employed borrowers who rely on Business Activity Statemen…