By Home Loans

Self-employed home buying journey

St George are here to help self-employed customers with their home buying journey.

Simpler Self Employed Applications with "Fast Track"

To help make verification simpler and reduce documentation requirements, a self-employed applicant can use their Fast Track assessment process.

For Fast Track processing, we need to provide the applicant's latest 2 years personal Australian Taxation Office Notice of Assessments only, i.e. business tax returns and financials are not required (unless requested).

Who's eligible to apply?

  • Self-employed customers who either pay themselves a salary / wage, dividends or Directors fees from their business or receive distributions from their partnership or trust; and
  • Don't need to rely on any other sources of income to afford the loan, such as addbacks, rental income or company profits
  • Lenders Mortgage Insurance is not applicable on the application

    • Medico Self Employed Applicants

    Can be considered with only one year tax return and NOA to be provided up to a maximum of 90% LVR with LMI waiver.

    Included Professions below;

    General Practitioners, Hospital-employed Doctors (Intern, Resident, Registrar, Staff Specialist),

    Medical Specialists, Dentists, Veterinary Practitioners, Optometrists, Pharmacists, Physiotherapists and Chiropractors

    Support for Self Employed Customers with growing businesses (One Year Returns Exception)

    If a customers latest year income is higher than the previous year, we can use the latest year's income for Servicing.

    We still require two years tax returns and notice of assessment for the latest financial year, two recent BAS and two corresponding BAS from prior year to be provided.

    Note if the Customer earned income from a Partnership, Trust or Company, then financial statements for the relevant entity should also be provided.

    Maximum LVR 80% or below as Lenders Mortgage Insurance is not available.