Self Employed and Lo Doc Loans

Loans for Self Employed, Newly Employed and Small Business Operators, including Low Doc Loans

Self employed people who are running a business, quite often have difficulty obtaining finance. They often get asked for 2 full years of financials figures and Tax. So they will apply to their bank, get a NO and think that is the end of the story.

The same is often true for people who have just changed jobs. The first 6 months of a new job you are automatically on probation, so the bank assumes that you are not permanently employed till that period is over. The problem is they say no, without always making it clear why they are saying no.

While most banks will take this view, there are a few specialist lenders who have worked with the self employed and new employees, and can work around these situations.

Even for brand new business' only 3 months old, or for people who have just changed jobs, there may be a Lender who can help you, and it won't necessarily be your bank.

Low Doc Loans

Some lenders determine income from BAS statements and letters of self assessment. Some lenders will need accountants letters. These are often called Low Doc Loans. The Interest rate is based on the risk perceived. So if you are looking to Consolidate debts for business or personal reasons, or perhaps looking to buy a new home and you're self employed or run a business, don't despair, there is generally help available.

Knowing which lender, how to prepare the submission so they have what they need and who is going to be most comfortable with your combination of circumstances is what Fast Debt Help does.

Prepare a list of your debts and income. To help you there is a budget sheet download on this page, or click HERE,  then Call Fast Debt Help and have a chat.