1-Year Financials for Refinance and Interest Only Investment Loan
Occupation
Self-employed – IT
Location
NSW
Loan Amount
$2m
LVR
70%
Property Type
House
Scenario
Mr. N worked in IT for a long time and decided to start his own IT business two years ago. His hard work has paid off, and his business has experienced rapid growth since last year.
Mr. N is looking to refinance his owner-occupied property and secure an Interest Only home loan to purchase an investment property. However, given Mr. N does not have two full years of financials from his own business that he has been operating for just under two years, major banks were unwilling to give him an investment loan.
How did Brighten help?
Under the Full Doc Prime policy, Mr. N has provided Brighten with the most recent 1 year Financial Statements and Tax Returns, supported by the latest Tax Assessment Notice.
Brighten took into consideration Mr. N’s years of experience in the IT industry and the income increase from his business is sustainable. As a result, Brighten approved both owner occupied and investment loans.
Fees, charges, lending criteria applies.