Homeownership journey with a self-employed starting a new business
Occupation
Self-employed – Marketing Agency
Location
QLD (Cat 1)
Loan Amount
$750,000
LVR
80%
Property Type
House
Scenario
Mr and Mrs M, a self-employed couple, recently embarked on an exciting entrepreneurial journey by starting their own marketing agency. As their business began in 2020 the first lot of financials had a lot of set-up costs involved, so now that their business has begun to flourish in the 2022 financial year, they are keen to take the next step and purchase their first home.
The couple has saved up a deposit of $180K for their first home. However, due to the relatively recent establishment of their business, they only have one year’s worth of financial statements available. This limited financial history could pose a challenge when seeking a traditional home loan.
How did Brighten help?
With our Full Doc Prime product Brighten Empower Prime, Mr and Mrs M provided us with the most recent 1-year financial statements and the most recent BAS. The couple received the Conditional Approval within 2 days.
Fees, charges, and lending criteria applies.