What is ‘income verification’?

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.

If you would like to know more, speak to a Lending Specialist on 13 73 77, Monday to Friday 8:00am - 7:00pm (AEST/AEDT).

Get started today

Let us call you back to discuss your home loan needs. Enquire online and a Lending Specialist will be in touch.

Enquire now

Related Stories