Home Loans for Self Employed in Australia

Are you working for yourself? As a self-employed professional, it could be challenging to get a mortgage. Sunshine Coast Financial Solutions can help. We are experts in mortgages for the self-employed and can work with you to find the best solution for your needs.

But first, what is self employed?

What does it mean becoming self employed in Australia, and how does determining the definition of self employed help with your application?

Self employed meaning: In Australia, a self employed person can be an independent contractor, business owner, a sole trader, a PAYG (pay as you go) professional, a partner in a partnership. 

Knowing if you’re self employed helps you maximise the benefits that come with this type of employment. You may claim a tax deduction for your super contributions and be eligible for the low income super tax offset (LISTO) or the additional concessions for certain invalidity payments, and so on.

More importantly, you will be able to avail of mortgages specifically designed to help self employed people get their foot up the property ladder. You can even borrow up to 95% if the property value if you provide sufficient documentation.

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Mortgage Broker VS Bank: Which option is better for getting a home loan when self employed?

If you are shopping for self employed home loans right now and wondering if you would be better finding a mortgage broker or going directly to a bank for your loan, let us help you look at your lending options.

A bank is a direct lender and is a financial institution that originates, processes and funds loans themselves. 

A mortgage broker is an accredited professional that works for the customer to find them the best deal. A mortgage broker sources the best loan for you from banks and other financial institutions. They do not work for a bank and they generally do not charge the customer a fee for service. 

In order to compare your bank’s mortgage offerings with other home loan products by yourself, you will need to research the market and approach other banks and lenders directly for their products and best available offers.

The downside to going straight to your bank for your mortgage is they will not tell you what else is available from other lenders so you can compare properly and they sometimes will not even tell you what comparable offers they have available if you don’t ask the right questions.

Should I use mortgage brokers for self employed?

Mortgage brokers work with a variety of lenders and have many customers with a range of financial situations, which means they have access to a lot of information. They also have access to the most up-to-date products and rates available on the market.

You can go to the best mortgage brokers and and get them to compare multiple loan products. You have access to  unbiased advice to help you understand interest rates, fees and all other details to help you find the best home loan for your situation and financial goals.

Work with a Sunshine Coast Mortgage Broker to Get a Self Employed Home Loan

If you’re self-employed, finding the right mortgage can be tough.

Sunshine Coast Financial Solutions knows the challenges that come with self employment in Australia and we’re here to help. We have a wide range of solutions to choose from and our brokers will work tirelessly to find you the best deal possible.

You deserve to have a home that you can be proud of, and we’ll do everything in our power to make that happen for you. We understand the importance of securing a mortgage, so let us take the stress out of the process for you.

Benefits of using a mortgage broker Sunshine Coast

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A mortgage broker receives a commission from the lender you choose to go with, only after your home loan is approved and processed.

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Because mortgage brokers have access to many different lenders and types of home loans, they will be able to work out which is also the most cost-effective option for you.

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Mortgage brokers Sunshine Coast are legally bound to work in your best interest. They are not aligned with one bank or lender, so finding the lowest interest rate, or home loan features is their priority, not the lender.

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A mortgage broker will oversee your paperwork and the overall process, even checking your documents for mistakes. Not only will this save your sanity, but also your time.

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A pre-approval gives you confidence when shopping for your dream home. A mortgage broker will work out how much you can borrow and take the next steps to get the loan pre-approved.

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A mortgage broker knows heaps about different mortgage products and the industry as a whole. They will help you understand what is on offer and they can match deals, interest rates and features on a case by case basis.

Our team is experienced and reliable, and we will work with you every step of the way to make sure the process is as easy as possible. We want to help you achieve your dreams, and that starts with finding the right mortgage for you.

Apply now on our website or give us a call to speak with one of our experts!

Tips from the best mortgage broker Sunshine Coast to help you secure home loans for self employed:

  1. Stay on top of your tax returns. Without a regular payslip, lenders will look to your business tax returns for proof of your business success. Showing that your business is profitable is a good sign.
  2. Utilise business add backs. Add backs such as car allowance, depreciations, interest expenses, excess superannuation contributions will help increase the income a bank will use to determine if you can afford a loan.
  3. Keep on top of your credit history. This will be important when it comes to showing a positive credit rating. 
  4. Don’t be late or miss any debt facility payments as with open banking this now stays on your credit file for up to 2 years and is causing a lot of issues.

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FAQs on Self Employed Home Loans

Yes. Being self-employed can often mean you don’t have documentation or the ability to adequately reflect your real cash flow. At SCF Solutions we have professional finance brokers specialising in home loans for self employed that understand this and can assist in finding the right home loan for you.

Going to the banks is the obvious choice, but we recommend speaking with a home loan broker Sunshine Coast specialising in mortgages for the self employed for a more streamlined application process. When you’re ready to purchase your next property, contact us for a personalised appraisal to see if you qualify for a home loan Sunshine Coast.

If you’ve been self-employed for under one year or two years it may become a little tricky, however some lenders will look at your past income and take that as proof you can afford the loan if it’s backed up with similar figures in your business over its trading life.

More often than not a blip on your credit history is going to negatively impact your application. However, there are lending institutions that offer a range of home loans specifically designed for people with this financial issue, and a good mortgage broker may be able to help liaise with them for you.

Below are home loan documents for self employed you need to comply with:

  • Two years of financial statements including personal returns, company returns and business profit and loss statements (some lenders will work just off one years)
  • A Business Activity Statement (BAS) with periods from the most recent financial statements through to application date.
  • Business bank statements 
  • Maybe a letter from your accountant projecting your income for the next 12 months could be needed
  • A statement to outline the effect of COVID-19 on your business if any

Note: All applications are subject to thorough credit assessment and loan suitability criteria.


What our Clients Say


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  • Avatar Janine JG ★★★★★ 4 months ago
    Chris and all the team at Sunshine Coast financial solutions have been absolutely fantastic. I cannot fault their service, professionalism and assistance with all my financial needs when I was obtaining finance.. refinancing and buying land. I'm not savvy at all in the finance area so the staff were incredibly helpful and highly efficient at getting me all the information I needed and helped me to understand what I was doing. I highly recommend them to anyone who needs help in this area. Thanks to Shanina especially... You really know your stuff and I couldn't have done all of this without you.
  • Avatar Jay W ★★★★★ a week ago
    This new homeowner is thrilled to leave a review for Chris and his colleague Adam at Sunshine Coast Financial Solutions. These mortgage wizards worked their magic on a loan for me, comparing all leading banks of Australia, with a great result. Their efficiency and advice meant I could make a fast and easy settlement. Chris and his team have made our first home buying experience so much easier.
    If you need a mortgage, I couldn’t recommend enough🌞🏡 Sunshine Coast Financial Solutions 🌞🏡
  • Avatar Katrina Owen ★★★★★ a week ago
    Sunshine Coast Financial Solutions worked magic for this first home buyer. The home-buying process is very daunting for newcomers, when searching for your dream home it's hard to know the usual steps and who to trust. Chris and Adam from SC Financial Solutions provided professionalism and attention to detail each step of the way, helping to relieve stress and bring peace of mind knowing we were in safe hands throughout this life changing decision. I'll recommend SC Financial Solutions to everyone searching for an award-winning knowledgeable, reliable and responsive brokerage team.
  • Avatar Elise Jamieson ★★★★★ in the last week
    My partner and I were super keen to get into the property market and reached out to Chris and his team as a result from reading these outstanding reviews and they did not disappoint. The team have been nothing but transparent throughout every process of building our first home and answered all our questions in record time. Thank you for your continuous support! Anyone needing assistance needs to look no further then SCFS! If I could put 10 stars I would.