What is ‘income verification’?

Posted in Getting Started

All lenders must verify that you can service a loan without experiencing hardship. Lenders verify your income to simply find out if you can afford the loan or not.

If you’re a borrower with irregular income, such as a contractor or self-employed, and you don’t have up-to-date tax returns, you may not be able to verify your income according to the criteria of prime lenders. In such a case, your income requires a different income verification process than a fully employed PAYG borrower.

Disclaimer: Please read

Close View

These articles provide you with factual information only, and are not intended to imply any recommendation about any financial product(s) or constitute tax advice. If you require financial or tax advice you should consult a licensed financial or tax adviser. The information in these articles is believed to be reliable at the time of distribution, but Pepper does not warrant its completeness or accuracy. Neither Pepper nor its related bodies, nor their directors, employees or agents accept any responsibility for loss or liability which may arise from accessing or reliance on any of the information contained in these articles. For information about whether a Pepper loan may be suitable for you, call Pepper on 13 73 77.