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Broker success story: Alt Doc Income Verification

alt doc

Purchasing an investment property when you’re self-employed can be challenging, but what happens when you’re unable to provide two years of income verification required by mainstream lenders?

Read how Bluestone helped the broker’s customer verify their self-employed income using alternate documentation and purchase their investment property.

What was the customer’s situation and how did Bluestone help?

The customer operates several successful businesses and has recently started a new company.

The opportunity arose to buy an investment property under the new company for tax and investment purposes. As the company was under 2 years old, this presented issues with mainstream lenders.

Bluestone provided a solution with a competitive rate with flexible documentation requirements. All this combined with a speedy lodgement to formal approval meant the customer could purchase their investment property with alternate documentation.

What made this deal unique or challenging?

The new business had strong cash flows but wasn’t recognised or accepted by the banks despite bank statements, BAS and their accountants confirmation of the income.

What Product did you receive?

Near Prime

Tell us about your experience working with Bluestone.

My BDM was instrumental in finding the right solution and packaging that with the requirements for my client’s income assessment. The application process was very efficient and well communicated from lodgement to settlement, with a very satisfied client.

Keep up the great work team!

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