With the number of self employed Australians on the rise, it’s quite common for people to apply for a home loan as a the director of a company. While there is nothing at all wrong with this, it can lead to a few complications.
Getting a home loan as the director of a company running at a loss
The most common hiccup we see in this area, is when a director applies for a home loan, and the company is running at a loss. This can be an unforeseen and confusing hurdle for many people. After all, if as the company director, they are paying themselves a substantial wage, the company’s loss might seem irrelevant.
Unfortunately, quite a few lenders would disagree. These lenders will factor company losses into their assessments and calculations. This can leave people with a severely decreased borrowing capacity, or simply no approval at all.
A Savvy solution
The solution to this problem, is to go to the right lender. While this might sound easier said than done, at Bee
Finance Savvy, we have the industry knowledge needed to make it a reality.
We stay constantly up to date on changing lender policies and rules. This allows us to accurately select the right lender for our clients needs. Our foremost priority in situations like this, is to take our clients to a lender who will give them an approval.
Taking the next step
If you’re the director of a company, and you want to apply for a home loan, you’re in the right place. Taking the next step is easy. Just call our friendly, Shire based broker Desiree! Desiree provides an obligation free consultation to customers Australia wide.
To take advantage of this offer, call or text Desiree on 0455 131 937 or 1300 140 554. Desiree can also be reached at firstname.lastname@example.org . Alternatively, you can fill out the contact us form on this site.
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