Being self-employed does not mean giving up the dream of owning a home, says Jenny Rushin, national development manager at BetterBond.
It may just require a bit more paperwork and some expert guidance.
“The perception that it’s difficult to buy property when you’re self-employed isn’t really true any more. Even when you’re not permanently employed, and don’t have a regular, fixed income, it’s possible to submit a successful home loan application.”
Rushin says self-employed bond applicants should:
◆ Ensure their tax and financial affairs are in order.
◆ Check their credit record.
◆ Keep their personal and business income and expenses separate.
◆ Work with a bond originator.
◆ Save as much as possible towards a deposit.