- In Bee Savvy - Getting the most out of your loan, First things first - Steps before applying for finance, Tricks of the trade - how banks fool borrowers
Lenders use a multitude of formulas to calculate how much you earn and thus determine your borrowing capacity
A commonly used approach is to view the year to date figure at the bottom of your payslip.
Using this knowledge of how banks will view payslips, we assist all our customers to prove their income correctly according to each lender’s criteria.
Have you been on unpaid leave? Recently had a pay rise or had another out of ordinary event in the past financial year?
At Bee Finance Savvy we are highly attentive to both what you advise us, and any discrepancies in the documents you provide us. We will work with you to ensure that your case is thoroughly and correctly explained; in order to avoid you having your loan amount downgraded due to mix ups with the lender’s credit department (whom without proper explanation will ignore what they have been told your income is and instead work purely off their formulas).
If you want to ensure that your pay is correctly articulated to the lenders, in order to maximise how much you can borrow, contact Bee Finance Savvy on 1300 140 554 or firstname.lastname@example.org
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