
Loans & Finance for Self-Employed Borrowers
Securing a home loan or business finance when self-employed can be challenging due to fluctuating income and strict lending criteria. However, many lenders recognise these challenges and offer tailored solutions, including both major banks and non-bank lenders.
How to secure finance?
Below we have outlined some of the ways that income can be verified for self-employed borrowers, when applying for a home loan or business finance.
Major Bank Income Verification
- Financial Statements & Tax Returns: Traditionally, banks require two years tax returns to assess income stability. However, in recent years some of the banks have started accepting more flexible methods of income verification.
- Management Accounts: Depending on the bank, some will now accept management accounts rather than tax returns, or a combination of the two e.g. 2023 Tax Returns and 2024 Management Accounts. Importantly, they can consider the higher year when calculating borrowing capacity (with adequate explanations).
- Non-Financial Year Management Accounts: In some cases, 12-month Management Accounts can be considered outside of a regular financial year. E.g. the 12 months to end January may be better than the previous 12-months to end June. This is beneficial when a business is growing and needs to rely on data from the current financial year.
- Self-Declaration: Yes, some major banks will accept self-declared income without any tax returns however BAS and ATO Portals will be required. This is generally for commercial or business lending only (e.g. not for residential home loans).
We apply our extensive knowledge to find a solution that is right for you and guide you throughout the loan application process.
Non-Bank Lending / Alt Doc Loans (alternative documentation)
- Alt Doc Loans: Where a major bank cannot assist, you may still qualify for an Alt Doc Loan with a non-bank lender. Alt Doc Loans can be secured against either residential or commercial property, for either home loans or business finance.
- Requirements: For an Alt Doc Loans, borrowing capacity is calculated using either BAS, an Accountants Letter or 12 months Bank Statements, with variating levels of assessment depending on the lender.
Self-Employed Borrowers often face challengers due to the variances in policy between lenders. If you’re self-employed and looking to raise finance, its important to find a finance broker with extensive experience both home loans & business finance.
If you work for yourself, are self employed or a sole trader, and you want a loan, it makes sense to choose a specialised Finance Broker who:
- Is experienced in lending to members of the emergency services
- Understands the special criteria lenders use when assessing loan applications from members of the emergency services
We can help you with:
Self-Employed and looking for finance?
Meet Brendon Cowan
Melbourne’s local mortgage & finance broker with over 20 years experience in home loans & business finance including over 10 years working with NAB and CBA.
Brendon has extensive experience business banking and has specialised in franchising, debtor finance, professional services & more.
Located in Melbourne, Brendon travels to meet customers in all states across Australia.


