SMSF Refinance Special – Limited Time Only
Why the bank said no
Nothing is wrong with your business. The problem is how a bank reads it.
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Your accountant's job is to reduce your taxable income legally. They do it well. That same figure then goes to a credit assessor who treats it as everything you earn, which is why a business turning over good money produces a borrowing figure that looks like a part-time wage.
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Add a PAYG-shaped assessment process, a two-year financials requirement and a computer saying no, and a perfectly good first home buyer gets declined. That is a lender selection problem, not an income problem. It is also exactly the problem we resolve here at Low Doc Loan Experts (LDLE).
What we use instead of tax returns
We are a team of mortgage brokers who specialise in self-employed lending, which means we work daily with lenders that accept alternative evidence of income. Depending on the lender, that can be:
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An accountant's declaration confirming your income is what you say it is
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Six to twelve months of business bank statements
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Your recent BAS lodgements
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A single year of financials, where two years are not available
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You declare your income and support it with one or two of the above. The declaration has to be accurate and something you can stand behind. Count on us to be straight with you about it before anything is lodged.
Most first home buyers who call us have more options than they were told. It takes one conversation to find out which.
SMSF Refinance Special – Limited Time Only
Need Help Organising an Accountant Declaration?
Getting an Accountant Declaration (or Self-Employed Income Declaration) shouldn’t feel like an uphill battle between you, your accountant, and the bank. In fact, many self-employed business owners hit a wall simply because their current accountant is unfamiliar with alt-doc lending policies or hesitant to sign generic bank forms due to liability concerns.
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At Low Doc Loan Experts, we remove that friction completely. We maintain an established network of qualified accountants who understand how self-employed cash flow works. If you don’t have an accountant—or if your current one isn’t comfortable signing off—we can seamlessly introduce you to a trusted professional in our network to get it done properly.
Low doc does not have to mean a higher rate
This is where most of the market gets away with something.
Plenty of lenders treat low doc as an excuse to price up, assuming borrowers with limited paperwork have nowhere else to go. Pricing across the low doc market varies far more than the advertised rates suggest, and the gap between the sharpest option and the lazy one is real money over a 30-year term.
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We are not tied to one lender. We compare the low doc panel properly and take you to the one that prices your profile best, which is the whole reason Low Doc Loan Experts exists as a business.
There is also an exit. After 12 to 24 months of clean repayments, with updated financials, many clients move onto a mainstream product at a sharper rate again. We set your first loan up with that step already in mind.
SMSF Refinance Special – Limited Time Only
First home buyer help still applies to you
Being self-employed does not disqualify you from the concessions everyone else gets.
Stamp duty exemptions and concessions for first home buyers are set by your state and depend on the property and your buyer status, not your income type. The First Home Owner Grant for new builds works the same way.
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The First Home Guarantee, which lets eligible buyers purchase with a smaller deposit and no Lenders Mortgage Insurance, is also open to self-employed applicants, and there is a quiet advantage for some business owners. Scheme eligibility is assessed on taxable income, and a modest taxable income is far less of a problem there than it is at a bank.
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It's worth checking properly before you assume you have missed out.
If possible: A rough idea of the suburbs you are looking at
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Send those through, and our mortgage brokers will come back with a borrowing figure, an indicative rate and a clear yes or a not yet. No cost, no obligation.
What we need to get you a number
Just three things.
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Your ABN details
and how long you have been trading
02
Whatever income evidence you have:
BAS, bank statements or financials
03
Your deposit,
and where it came from
If possible: A rough idea of the suburbs you are looking at
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Send those through, and our mortgage brokers will come back with a borrowing figure, an indicative rate and a clear yes or a not yet. No cost, no obligation.
Frequently Asked Questions (FAQs)
It varies by lender. Some want two years of ABN registration, several will consider 12 months, and a small number look at six months where the rest of the application is strong. This is one of the main reasons the lender you approach matters more than anything else in your file.
Not always, though many low doc lenders want to see GST registration held for a set period, often 12 to 24 months. If you are under the registration threshold and not registered, say so early, and we will start with the lenders who can work with that.
No. Low doc is a verification method, not a black mark. A clean repayment history on a low doc loan is exactly what allows you to move onto a mainstream product later, which is the path we plan for from the beginning.
Usually a great deal. A mixed application can often be assessed with your partner's payslips carrying the verification load, which can open up lenders and pricing that neither of you would reach alone. Bring both income types to the first conversation.