deanthebrickie Posted January 7, 2013 Share Posted January 7, 2013 hi has anyone got a mortgage whilst being self employed and under 2 years in oz. just been advised by a mortgage expert that would need 2 year australian accounts to be considered, although bank told us 2 years tax returns from any country and proof of income here. Who is right? Cant face 2 years in rental, would rather be in cold UK. The bank mortgage advisor for two local branches on holiday for 2 weeks. arrggh Quote Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted January 7, 2013 Share Posted January 7, 2013 I've moved this in to Andrews thread as he will be the best to advise. It use to be that if you had an hefty deposit you only needed an ABN for 24 hours. This has now changed to the 2 years, but Andrew can advise more. Quote Link to comment Share on other sites More sharing options...
Andrew from Vista Financial Posted January 7, 2013 Share Posted January 7, 2013 hi has anyone got a mortgage whilst being self employed and under 2 years in oz. just been advised by a mortgage expert that would need 2 year australian accounts to be considered, although bank told us 2 years tax returns from any country and proof of income here. Who is right? Cant face 2 years in rental, would rather be in cold UK. The bank mortgage advisor for two local branches on holiday for 2 weeks. arrggh Hi Dean There's not necessarily a right or wrong it's more case by case. Generally an ABN is required to be held for 2 years or 2 years financials are required for a loan (full doc) but there may be the possibility of more flexibility in some cases (i.e lo-doc loan) or other options. This is dependent on a number of things, for instance (as Moving2Melbourne has said) the size of your deposit, also your visa type as well as how long you have had your ABN etc etc. Also if someone that is Self-Employed contracts soley for one company things sometimes can be viewed differently. Regards Andy Quote Link to comment Share on other sites More sharing options...
deanthebrickie Posted January 7, 2013 Author Share Posted January 7, 2013 Hi Dean There's not necessarily a right or wrong it's more case by case. Generally an ABN is required to be held for 2 years or 2 years financials are required for a loan (full doc) but there may be the possibility of more flexibility in some cases (i.e lo-doc loan) or other options. This is dependent on a number of things, for instance (as Moving2Melbourne has said) the size of your deposit, also your visa type as well as how long you have had your ABN etc etc. Also if someone that is Self-Employed contracts soley for one company things sometimes can be viewed differently. Regards Andy so as my husband has ABN and only contracts to one person is that a better scenario. we are hoping that at some point i will be working as will be PAYE. So can credit history in UK be taken into consideration. Our deposit will be between 10-20% depending on property Quote Link to comment Share on other sites More sharing options...
Andrew from Vista Financial Posted January 8, 2013 Share Posted January 8, 2013 so as my husband has ABN and only contracts to one person is that a better scenario. we are hoping that at some point i will be working as will be PAYE. So can credit history in UK be taken into consideration. Our deposit will be between 10-20% depending on property Hi Yes it could do and the bigger the deposit the better, 20% will give more flexibility. As said there are lots of things that need to be considered here. I would be happy to have a look at your case for you if you like to give you my opinion or wait until your Bank Manager comes back and see what they have got to say. Regards Andy Quote Link to comment Share on other sites More sharing options...
crispysince70 Posted February 10, 2013 Share Posted February 10, 2013 Hi Dean, We have just been approved for a mortgage, and i have only 1 years worth of accounts. This is with the commonwealth bank. The only stipulation we had though, was that we had to pay off some car finance we had before they would lend us it. Regards Chris x Quote Link to comment Share on other sites More sharing options...
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