Self-Employed and Low Doc Home Loans Gordon

Full documentation remains the strongest position, because two years of personal and business tax returns plus ATO notices of assessment let lenders verify income exactly as they would for a PAYG applicant, which means sharper pricing and a higher ceiling.

Business activity statements substitute for payslips on the alternative documentation route, with most lenders wanting the last four quarters lodged, GST figures reconciled against turnover, and a couple accepting two quarters where the trading pattern looks stable across the year.

Twelve months of business bank statements, sometimes six for stronger applicants, let an assessor read deposits directly and derive an income figure, and this route suits cash businesses and recent restructures where lodged returns lag what the account actually shows.

An accountant's letter confirming trading income, signed by a registered tax agent, works as the lightest paperwork path, though lenders discount declared figures heavily, commonly accepting only a portion of the stated amount, so expectations need setting before anyone applies.

One full year of tax returns opens doors at a small number of lenders, usually non-banks, whose policies permit shorter trading histories, and the trade-off is a narrower choice and tighter assessment, which is why lender selection matters more here.

Contractors, freelancers and ABN holders often qualify under categories built around day-rate contracts, invoicing histories or a mix of declaration and statements depending on the lender, and regular contract income is assessed more favourably than irregular project work ever is.

Low doc and alt doc loans are priced above full documentation equivalents, with the loading varying by lender and loan type, and once two clean years of returns exist, moving to full doc assessment usually removes that pricing margin entirely.

Deposits under twenty per cent already attract lenders mortgage insurance, and low doc borrowers commonly face a higher premium again or a lower maximum borrowing ceiling, which is why the deposit size question matters more again for self-employed applicants here.

Major banks want full documentation, so the low doc market sits with non-bank and specialist lenders, and their ceilings vary widely, some writing loans up to roughly eighty per cent of value, others stopping short, which shapes the deposit target.

Waiting another two quarters before lodging BAS sometimes beats applying, because a stronger documentation position delivers a genuinely better borrowing outcome, and an honest strategy conversation should weigh the waiting cost against the policy gain before anything is lodged anywhere.

You deal directly with Your Mortgage Broker Gordon, a credit representative whose representative number sits on every page, rather than a call centre queue, and the person who structures your file is the person who answers your calls throughout the whole process.

One bank can only say yes to itself, while a panel of lenders means a decline from one policy leads to another assessment under different rules, which matters because self-employed lending policy varies more between lenders than any other category.

The service costs nothing for most borrowers, since the successful lender pays a commission at settlement, the full fee and commission structure is published before you sign anything, and any client-paid fee is quoted in writing before any work begins.

Products get discussed last here, because the documentation path, the lender policy fit and the realistic borrowing figure are worked through first, and only then does the conversation reach loans, which is the opposite order to most low doc advertising.