low doc loans

low doc loans

A self-employed client had unprecedented sales growth in a short period during COVID 19 and had built 20% deposit saving for a house.

Issues

  • Most lenders require a consistent income over a two year period;
  • Lenders cannot rely on short term income growth for serviceability.

Partnership Solutions (Aston Partners and Traverse Accountants)

  • We worked with our Partner Accountancy Firm (Traverse Accountants) to assess and calculate the annualised turnover and prepare an interim financial report;
  • The preparation of the interim financial report allowed the accountants to provide an Accountants Declaration confirming the net profit of the business;

Client Win

  • Even without two-years of consistent financial records, the client was able to use the 20% deposit saved to purchase their dream home.