We recently assisted an existing client who was looking to purchase an investment property as a small business owner. The client had not yet prepared and finalised their financial figures for the most recent tax year, which is usually required to take out a loan as a business owner.
We noticed that the previous financial year income was lower than usual, due to a large, long-term project, which wasn’t finalised until the next financial year. The client approached Launch Finance as he was looking to purchase an investment property before his most recent financials were prepared and finalised.
The broker took the time to research the market with lenders who would accept the client’s most recent Business Activity Statement (B.A.S) and a 12-month profit & loss statement. We used our networks to get in touch with a lender who approved the home loan application on this basis and the client was then able to proceed in putting an offer on the property which he successfully purchased.
The client secured his investment property and received a low home loan rate which was just as competitive as if he had all his current income documents ready to go.