Hi to all the expert brokers
Planning ahead for next deal and need some advice/info please:
Joint application PAYG together with self employed (less than 2 years) so require a lo doc loan for an 80% LVR. (PAYG income not enough as a standalone application).
I believe there are a couple of lenders who allow 12 months BAS statements rather than 2 years and registered for GST with ABN.
We have a company with ABN more than 10 years but not registered for GST as our investment rental income does not require it.
Is it possible to use 12 months business banking statements rather than BAS returns to support this type of application to verify the serviceability requirement?
If so, what other supporting documentation would the lender require?
For instance profit and loss statements for company?
Definitely one for all those brokers who deal in the lo doc lending arena
thanks for your time
Planning ahead for next deal and need some advice/info please:
Joint application PAYG together with self employed (less than 2 years) so require a lo doc loan for an 80% LVR. (PAYG income not enough as a standalone application).
I believe there are a couple of lenders who allow 12 months BAS statements rather than 2 years and registered for GST with ABN.
We have a company with ABN more than 10 years but not registered for GST as our investment rental income does not require it.
Is it possible to use 12 months business banking statements rather than BAS returns to support this type of application to verify the serviceability requirement?
If so, what other supporting documentation would the lender require?
For instance profit and loss statements for company?
Definitely one for all those brokers who deal in the lo doc lending arena
thanks for your time