Being self employed makes it hard for you to obtain home loan finance with a bank and you are often treated as an outcast.
Our Self certified, low doc loans help you solve these problems. We have access to many lenders who offer a low doc loan and the best interest rates in the market are available through Metro Loans.
No Financial Information
Quite often self employed/contractors do no have up to date taxation returns due to the time and expense it takes to prepare. At Metro Loans we offer a variety of loans where you can declare your own income - and not show us any tax returns. It doesn't get any easier than this. You tell us your income and we take your word for it. You are also allowed to have some bad credit issues such as court judgments, credit defaults, loan arrears and bankruptcy history. Doesn't sound like a bank does it?
Showing Low Income on Tax Returns
We don't know of any people who enjoy paying tax! As a result many self-employed people are able to reduce their taxable income with the effective (& legal) use of tax deductions. This is great as you don't have to pay much tax but terrible when you go for a loan. However at Metro Loans your can declare your income to us and forget about supplying tax returns!
As long as the amount you declare accurately represents your business income there will not be a problem. Even if you have bad credit issues or loan arrears we can still assist.
Just Started a Business
The thrill of setting up a new business or buying an existing one is often offset by the thought that you will not be able to raise any form of finance for at least two years which is how long all the banks want you to wait. Metro Loans has a loan product that will cover this. Called Business Start up, this loan can help those people who have only recently started a business or began as a sub contractor. All you need is an ABN (Australian Business Number) or are going to apply for one and a bit of equity in your home. With this product you state your own income and we take your word for it. You can even have credit problems. Funds can be used for any (legal) purpose.
Product Features
General
No upfront application fees No mortgage insurance required Quick approvals No Income Verification Assist clients who do not fit the bank's criteria Voluntary repayments allowed Any worthwhile purpose Loan details
Up to 30 Year loan terms Principal and Interest or Interest Only available Weekly, Fortnightly or Monthly repayments [go to repayment calculator] Minimum Loan size $30,000
Security
Can lend you up to 95% of your house value* Mortgages over residential or rural residential properties (up to 20 Acres)* Can use vacant land as additional security*
*Terms and conditions apply.