PERTH & MANDURAH 08 9367 4222

08 9367 4222

As brokers, we understand that individuals require tailored solutions for their financial loan matters. Whether they are selling or buying property, entering the commercial market or are already self-employed, we have the solution at Launch Finance.

Self-employed applicants have to deal with a lot of rules with banks when being considered for a loan, particularly if there is variance in profit. For example, income when a business is starting up is vastly different to income received during substantial growth.

It is common for many lenders to accept an increase of up to 20% between two financial years, or they may average the last two years’ net profits in order for self-employed clients to progress in their loan. However, we have a lender who offers a product to adopt in servicing an increase variance in net profit of up to 150%!

That’s right, 150%! Let’s see how this would look in a case study.

Case Study

If your client had a net profile of $100,000 in the 2015 financial year and $150,000 in 2016, our lender can adopt the full $150,000 in servicing – rather than a 20% increase ($120,000) or an average (125,000).

What else?

As if it weren’t good enough, our lender’s product also offers rates starting from 3.84%pa, (comparison rate of 4.22%)

Our lender will deliver up to $500,000 lending for business purposes including cash out or refinance of existing business debt secured against client’s residential property. They also offer investment or business purpose loans at OO rate, if secured solely by applicant’s OO property. They also have an I/O option available with no rated loading.

Depreciation up to 20% of a business’s net profile can be added to after tax income for servicing calculations along with other acceptable addbacks.

If you or your client is self-employed and looking to obtain a loan, get in touch with your broker today and take advantage of this great product.