Mel Finance
Self employed home loans Melbourne


Mel Finance is listed in the top 25 brokers for Customer Service out of 19,000 Mortgage Brokers Australia-wide

The Challenges of Self-Employment

Home loans for business owners MelbourneSelf-employment is an exciting opportunity. More freedom, more room for growth – the benefits can be endless! But there are some definite hurdles involved, especially when it comes to certain financial obstacles. Applying for a home loan is a natural step toward the next chapter of your life, but the application process can be demanding.

If you’re self-employed, this is especially true. How can you prove to home loan lenders that your self-employment can support your application? What makes self-employed home loans so different from standard loaning processes?

What Makes Self-Employed Home Loans So Tricky?

With such extensive time frames, these requirements make it very difficult for self-employed professionals to acquire home loans, especially within the first two years of business. This can also affect your ability to pursue your personal goals such as acquiring your first home and set you back in your life’s progression.

The reason why banks are hesitant to lend to new business owners (less than two years of ownership) is simply that a new business is considered a risk and could jeopardise their investment. Following this ideology, new businesses are sometimes penalised with higher interest rates, or traditional lenders will lend lower LVR’s (loan to value ratios) in the rare case where the loan is approved.

Our Self-Employed Home Loan Options

Home Loans for Self-Employment Over 2 Years

If you have been self-employed for over two years, there are home loans readily available for you. Although it will still take a range of paperwork and information to properly apply, you are at least in a fortunate enough position to have plenty of documentation available.

At Mel Finance, we have extensive experience helping self-employed people find the perfect home loan for their circumstances. This will involve helping you to organise all the different forms of paperwork that will need to be supplied in order to give a comprehensive picture of where your business is at. The paperwork may be extensive, but with our support, you won’t need to worry about a thing.

Home Loans for Self-Employment Under 2 Years

There are low-documentation (low-doc) loans available on the market and we can help you find these lending options, which could save you time and money. As these require less documentation, they often make home loans more accessible for self-employed individuals who have only been working for under two years. Low-doc loans can be a challenge to organise, but our team can help you apply for them. Mel Finance, your local qualified Melbourne mortgage broker, can aid you in taking your first steps toward owning your own dream home. In the past, our firm has worked with many sole traders and trust companies from different industries and our daily experience has acquainted us with the detailed knowledge of acquiring a loan. Thus, we understand that each individual case is different and hence tailor the process to match your requirements.

Ready to get your home loans in order? Book your free 15-minute Discovery Call today!

What Do I Need to Apply for a Self-Employed Home Loan?

Home loans for self employed MelbourneCover the basics of documentation and requirements, then stress that Mel Finance can guide you through applying for a self-employed home loan can involve a lot of paperwork. As opposed to your standard fixed-rate home loans, a financial institution needs more information to approve a home loan specifically tailored for a self-employed person. This involves a wide range of different forms and proof of employment, confirming not only your present income rates but also the likelihood of continuing success over the next few years.

This paperwork will likely include:

  • Proof that your ABN has a minimum of two years of registration
  • Two years of personal income tax returns, business tax returns, and any tax assessment notices
  • Business bank statements for the last month
  • Details of any external business liabilities, including leases, overdrafts, company loan repayments, hire purchase, and more
  • Profit and loss statements covering the last two years

Don’t get overwhelmed by the process. Here at Mel Finance, we have helped countless self-employed Australians navigate the complications of receiving a home loan, organising lenders mortgage insurance, finding the right interest rate, and more. If you’re looking for a home loan specialist to ease the confusion, Mel Finance is ready to lend a hand.

Your Self-Employed Home Loans Questions Answered

The reason why self-employed individuals can sometimes struggle to get home loans is because lending regulations can require specific information which can be hard to obtain when running your own business. This may include 24 months of ABN registration, two years’ worth of tax returns, and a history of financial statements that your growing business may not have. That’s where we can help.

Getting a loan as a sole trader or small business owner may seem more daunting than it really is. There are plenty of loan options available, and the right expert will be able to guide you through the process quite easily.

Generally speaking, there are a few key things you will likely need to provide to prove your self-employment for home loan purposes. This may include providing tax returns, financial statements, business registration documents, and more.

Banks will typically use personal income tax returns to calculate how much you earn and the projected success of your business.

Self-employed borrowers looking for a low-doc home loan are required to have a maximum borrowing capacity of 80%.

Why Choose Mel Finance?

Melbourne Based

Here’s the Mel Finance difference – we’re local. We know our area and the community, offering local mortgage broker support that is tailored to the unique needs of Melbourne individuals.

Personalised Service

Our team puts people first. Our top priority is always to provide services that help people build better futures, with better financial stability.

Boutique Broker

Large, corporate giants can’t give you that personal touch. As a small, boutique company, Mel Finance is proud to deliver flexible services to suit each unique client.

Build Your Future With a Home Loan

Melbourne home loans for self employedBeing self-employed takes courage. If you have built yourself a successful income, you deserve to be able to access an impactful home loan. The specifics of your employment shouldn’t be a hurdle that prevents you from getting the home you’ve been dreaming of. By partnering with a home loan specialist, you can find a home loan that best suits your situation and helps you achieve your goals.

We’ll analyse the options for you and walk you through the entire process, always available to answer questions and compare non-bank lenders, residential home loans, and interest rates until we find the right self-employed home loan for your situation. Your future starts today – and we can’t wait to help you build it.

Book an Appointment With Mel Finance to Find a Home Loan

Earning a self-employed home loan is a detailed process. For too many people, all the hoops they have to jump through can put them off from ever starting the journey. Luckily, you don’t need to tackle this challenge alone. By working with Mel Finance, you can benefit from the experienced advice of a home loan expert. We care about equipping people with everything they need to kickstart the rest of their lives with a home loan, helping them navigate the application process, and finding an option with both principal and interest repayments at beneficial rates. Call us today or book an appointment to discuss your home loan needs further.

Google Reviews

Great experience! Lumbini is a great advisor and I would highly recommend him for future brokering advice.
Lachie Sinclair
Lachie Sinclair
February 28, 2024
Best broker I’ve dealt with! I haven’t had to lift a finger, went through the whole process better than I could have ever asked for. I had a ton of questions and got them answered without even asking them. You’re an absolute star Lumbini.
Sandeep Singh
Sandeep Singh
February 24, 2024
Lumbini was amazing with helping me a get a home loan, he explained things easily, found a bank and loan that was suited to me and was there 100% throughout the transaction, Lumbini is officially my broker and would happily recommend him to anyone - thanks Lumbini
Sarah Lewellin
Sarah Lewellin
January 24, 2024
Lumbini made the process so simple and easy for us! He was able to get the approval for us within short period of time to meet the settlement time. He is very professional, patient and supportive through the process of organising the loan and everything went through seamlessly. Would highly recommend!
Andrew Liang
Andrew Liang
January 9, 2024
Managed out refinance excellently. Communication was great.
Maxwell Chiazor
Maxwell Chiazor
January 8, 2024
Our first home buying experience was stress free and less daunting with Lumbini's assistance and reassurance throughout the whole journey. Lumbini always ensures that all our queries and requests are addressed in a prompt manner. He is knowledgeable and his advice is practical and always for our best interest. We are very pleased to have found Lumbini as our mortgage broker. I would highly recommend Mel Finance for anyone who is looking for home financing.
Maria T
Maria T
December 24, 2023
Mel Finance and Lumbini for Best long term mortgage engagements!! We just completed our second property with them and looking forward for more!!! When it comes to mortgages and account formation Lumbini always take care of details and gives you a great peace of mind. Best offers and market leading lenders are their specialties. Apart from just getting the loan sanctioned they advise you on facts and reality which help you make best decision rather than burning money in a long run. Unlike just client lender broker relationship Lumbini and Melfinance strive to keep a long term relationship with client which is only possible by providing quality services and continuous support. Look no further if you need best advices on current market conditions!
Jayesh Nath
Jayesh Nath
December 4, 2023
Lumbini was incredibly helpful throughout the whole process. We were first home buyers had had no idea where to start and he explained everything to us and answered every one of our questions with patience. I would highly recommend Lumbini as your mortgage broker he is experienced and helps put your mind at ease with all the stressors. Would recommend him to family and friends without question!
Hannah M
Hannah M
November 12, 2023
I am delighted to share my recent experience in purchasing a new home and express my heartfelt appreciation to our dedicated mortgage broker, Lumbini. Throughout the entire process, Lumbini exhibited a remarkable level of professionalism, great service, and care. His patience and attention to detail during our consultations were truly outstanding, making the complex journey of securing a mortgage simple and seamless. I wholeheartedly recommend his services to anyone in need of expert guidance in the mortgage arena. Thank you, Lumbini, for your exceptional support and expertise! 😊
Elizabeth Z
Elizabeth Z
November 3, 2023
Lumbini was fantastic to work with. He made the process less complicated and provided appropriate advice and care. Overall a pretty seamless engagement and couldn't be happier with the outcome. Would definitely be engaging for future mortgage needs. 😀
David Lim
David Lim
October 23, 2023



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