Anthony Alabakov, My Mortgage Freedom

I'm sold on Specialist Lending because...

"...it allows me to service more self-employed clients and have a point of difference compared to banks and other brokers."

My Mortgage Freedom used a specialist lending solution to provide a solution to a self-employed client with unusual circumstances.

The Problem

  • Applicant purchased a residential property ($2.1m) with a deferred settlement period of 12 months.
  • Applicant was a self-employed real estate consultant with a complex corporate structure (ABN of 18 months) and multiple income streams.
  • His most recent tax returns were not yet available.
  • With settlement looming, his accountant recommended he talk to his broker to find an alternative financing option as his bank was not willing to consider his set of circumstances.

The Solution

  • Anthony approached Pepper Money on his client's behalf knowing Pepper Money has the expertise in assisting self-employed borrowers and will take the time to properly analyse the situation and find a straight-forward solution.
  • Pepper Money determined that based on the customer's needs and information available, it could best assist by proving serviceability via alternative documentation - in this case, an Income Declaration supported by six month's BAS statements.
  • Pepper Money was also able to accept an ABN < 24 months via the appropriate loan product.

The Outcome

  • Pepper Advantage Alt Doc JUMBO up to 80% LVR was offered and the client was delighted he could progress to settlement.
  • The client's accountant has now become a referral partner for My Mortgage Freedom.
     

Do you have a client with a similar situation?

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Applications are subject to Pepper Money's normal credit assessment criteria and loan suitability criteria. Terms, conditions, fees and charges apply.