Specialist Lending

January 31, 2016
  • Are you self-employed and have difficulty in proving your income?
  • Is your credit history less than perfect?

    Then you may wish to consider specialist lending.

    Specialist Lenders look at providing finance to self employed applicants and borrowers with credit file issues. 

    Characteristics of specialist lending include:

    • Pricing for risk, i.e. the more challenging the borrower, the higher the rate
    • The borrower is able to “self declare” their income.

    This declaration needs to be supported by either:

    – A letter from the borrower’s Accountant

    – Six months BAS Statements

    – 6 months business bank account statements

    • Being a more expensive (rates and fees) avenue of finance

    Specialist lenders will also lend to payout tax debt and credit defaults

    Quite often borrowers will take up a specialist loan for 2-3 years, get their affairs in order and then refinance to a main stream lender.

    Better Choice Mortgage Services is not responsible for, and expressly disclaims all liability for, damages of any kind arising out of use, reference to, or reliance on any information contained within this website. While the information contained within this website is periodically updated, no guarantee is given that the information provided in this website is correct, complete, and up-to-date. Although the Better Choice Mortgage Services website may include links providing direct access to other internet resources, including websites, Better Choice Mortgage Services is not responsible for the accuracy or content of information contained in these websites. Links from Better Choice Mortgage Services to third-party sites do not constitute an endorsement by Better Choice Mortgage Services of the parties or their products and services. The appearance on the website of advertisements and product or service information does not constitute an endorsement by Better Choice Mortgage Services, and Better Choice Mortgage Services has not investigated the claims made by any advertiser. Product information is based solely on material received from suppliers. Advanced Finance (Pty) Ltd t/a Better Choice Mortgage Services are not financial planners or accountants and we would encourage our clients to seek professional advice before acting on any a financial or taxation information in this news post.

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