Non-bank lenders assess your income differently. If you’re a business owner, contractor, or commission earner, we can find a lender who understands how you actually earn.
Why Banks Make It So Hard
Banks require two years of filed financial accounts, consistent PAYE-style income, and tidy financials with no unusual write-offs. That’s fine if you’re an employee. But if you run a business, contract independently, or earn through multiple income streams, the bank’s rigid criteria can make it almost impossible to get approved — even when you’re earning well above what’s needed to service the loan.
Common reasons self-employed borrowers get declined:
• Your financials aren’t up to date or show one bad year
• You write off expenses that reduce your taxable income below the bank’s threshold
• You’ve been self-employed for less than two years
• Your income comes from multiple sources (contracts, rental, dividends)
• You changed business structure recently (sole trader to company, for example)
What Non-Bank Lenders Accept Instead
Non-bank lenders take a more practical approach to proving income. Depending on your situation, they may accept:
• An accountant’s letter confirming your income
• Six months of business bank statements
• GST returns
• A signed declaration of income
• A combination of the above
The exact requirements vary by lender, which is why working with a specialist adviser matters. We know which lenders are the best fit for your specific situation, and we present your application in the way most likely to get approved.
Your Plan to Get Back to a Bank
A non-bank mortgage doesn’t have to be permanent. We structure every non-bank loan with an exit strategy — a clear plan to refinance you onto a lower-rate bank mortgage once your financials, trading history, or credit profile meets bank criteria.
Most of our self-employed clients transition to a bank within 12 to 24 months. We’ll tell you exactly what needs to happen to make that move, and we’ll help you get there.