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Broker success story: Michael Royal – PRIME

Getting access to a Prime product can be a challenge when you don’t have two years of self-employed income on your tax return. This was the issue facing Michael Royal’s clients who needed a pre-approval for auction, but were struggling to find a cost-effective solution. 

With some help from his Bluestone BDM, Michael was able to successfully get his clients pre-approved for our Prime Alt Doc product. 

Here’s what Michael had to say about his experience with Bluestone.

What was the customer’s situation?

Clients wanted a fully assessed pre-approval for auction.

What made this deal unique or challenging?

Both applicants were self-employed by a family company with a corporate trustee. Their income was excellent on their FY20 tax returns, but for the previous year, the income for one of the applicants was primarily PAYG for a 3rd party employer. This meant their tax returns didn’t show two years of self-employed income. 

No other lender had a product which could deal with this scenario in a cost-effective way.

What product and rate did your customer receive?

Prime Alt Doc

Tell us about your experience working with Bluestone

My BDM was really clear that he could assist me. When there was an issue with credit approval, he stepped in and made sure the deal proceeded.

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