A Self-employed Borrower Securing a Full Doc Prime Loan with 1-Year Financials
Occupation
Self-employed – Plumber
Location
QLD (CAT 1)
Loan Amount
$450,000
LVR
50%
Property Type
Established House
Scenario
Mr B has been running a successful plumbing business for the past 15 years. He has completed his 2023 tax returns and was looking to refinance his investment property held under his trust, with a 5-Year Interest-Only term.
Due to the repayment structure and his existing debts, Mr B was worried that his borrowing capacity may be limited with traditional banks.
How did Brighten help?
Brighten accepts 1-Year Financials for self-employed borrowers under its Full Doc Prime product, Brighten Empower Prime.
Since Mr B’s previous loan has been in place for more than 12 months and there have been no adverse credit events, listings, or debts, Brighten assessed his refinance application under our 1% alternate servicing policy. His OFI debts were also assessed at 125% of the actual repayment.
Brighten approved Mr B’s application for his proposed loan amount and LVR within 48 hours.
Fees, charges, lending criteria applies.