Refinance and Cash Out using only Directors Wages
Occupation
Self-Employed (Plumbing Business)
Location
VIC (CAT 1)
Loan Amount
$1,800,000
Scenario
Mr. A has operated a self-employed plumbing business for many years, coordinating a team of 10 plumbers across various jobs through three different business entities.
He already holds two investment properties via separate trusts and is looking to purchase again. He wanted to maximise his borrowing capacity while securing competitive pricing without lengthy paperwork.
How did Brighten help?
Brighten accepts directors’ wages for servicing up to 80% LVR under our Full Doc Prime product, Brighten Empower Prime.
In Mr. A’s case, his borrowing power was maximised through our reduced refinance servicing buffer, competitive HEM, and 90% rental income servicing policy.
Mr. A also found the income documentation requirements refreshingly simple: just two recent payslips, a current ATO income statement (or six months of bank statements) and an accountant’s letter confirming the company has traded profitably for the past two years and is financially able to meet its obligations.
Fees, charges, lending criteria applies.