If you are self-employed, working as a contractor or thinking of starting a business, this episode of the Home Buyers Australia Podcast is a must. Jack Corbett and Damien Walker outline the challenges to securing finance for entrepreneurs, business owners and independent contractors. They offer advice for strategic and tax planning and share three approaches that could help you to streamline the process. Our hosts explain why it is important to get your accountant on board, why timing is everything and how you can get your finances in shape to get the lending you need and the property you want.

In this episode you’ll learn

• Why forward planning is crucial for business owners, especially when preparing tax returns to maximise borrowing potential.
• The benefits of the Director Salary Policy, a simplified approach for verifying income without relying on full company tax returns.
• How One-Year Financial Policies can help new businesses or those recovering from challenging periods like COVID to secure loans faster.
• What Low Doc Loans are, and when to use them, including their pros, cons, and how they provide flexibility for unconventional income scenarios.
• Tips for making smart financial decisions as a business owner, including realistic income declarations and leveraging the right loan products for your situation.

TIMESTAMPS:

00:00 Introduction
00:35 Understanding the Differences: Self-Employed vs. PAYG Borrowers
02:15 Forward Planning for Business Owners
08:00 Director Salary Policy: Simplifying Income Verification
12:36 One-Year Financials Policy: A Lifeline for New Businesses
19:05 Low Doc Loans: Pros, Cons, and Best Use Cases

ABOUT THE PODCAST:

Are you dreaming of owning your own home? Home Buyers Australia is your ultimate guide to navigating the Australian property market. Join mortgage broker Damien Walker and buyer's agent Jack Corbett as they break down the home buying process into easy-to-understand steps.

Damien Walker, a mortgage broker at Atelier Wealth, specialises in helping Australians navigate the complexities of property finance. With years of experience in the industry, Damien’s insights are invaluable for those looking to build a robust property portfolio.

Jack Corbett, a buyer's agent at Corbett Property Buyers, brings a wealth of knowledge in identifying and securing high-potential properties. Jack's expertise ensures clients make informed decisions that align with their long-term goals.

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