When in business it is important to get your details and your figures right. Like yourself Australia has a strong ‘do it yourself’ attitude, you have worked hard to achieve the goal of being one of the 14% of all working Australians who are self-employed that many people only dream of so why should your borrowing be any different from an employee?
Lenders often shy away from those who work for themselves, and with recent changes in legislation it can seem to be more difficult for self-employed Australians to get a loan.
So how can you get past this?
The trick is knowing how, and having a professional Financial Broker to assist you in jumping through the hoops.
‘Non-bank’ lenders are quickly climbing the Lending Ladder worldwide, and attracting a lot of attention from potential borrowers. Major Banks rely on the ease of convenience for people to walk into a branch and ask for a loan. These Banks do not have to compete for your business; but this doesn’t always mean you’re getting the best offer on the market.
To save you the effort so you can spend more time building your business, choose a Financial Broker. Financial Brokers have the power to compare products, speak to third-party companies on your behalf – obligation and pressure free, and uphold a legal responsibility to do the right thing by you.
So, what sort of questions should you ask yourself before you contact your Financial Broker?
- Are your finances and Tax Returns up to date?
- Do you have two years-worth of Financial Statements?
- How will borrowing affect your tax?
- What’s your plan moving forward with the money borrowed?
- Have you considered your future plans?
June Richardson, vice president at Mortgage Lender GuardHill Financial Corp. in New York quotes, “Life is not a cookie-cutter circumstance. Everyone has their own set of baggage that they come to you with. You need to have the right team behind you in order to get the deal done.”
FAA Lending are a team of Financial Brokers that can explain what you need to do to put together a strong home loan application. So, it’s a good idea to speak with FAA Lending even before you’re ready to apply for a home loan.