Rethinking home loans for the self-employed

It’s widely recognised that self-employed households in Australia are vital to a thriving economy, yet many lenders are hesitant when it comes to home loans for self-employed people.

At Liberty, we offer loans designed for self-employed borrowers. Whether you’re looking for alternative ways to verify your income or greater flexibility around borrowing to expand your business, Liberty has out-of-the-box solutions to keep up with your ideas.

Maximum LVR 85%
Maximum loan amount* $2,000,000
Minimum loan amount $50,000
Principal & interest
Interest only**
Split loans***
Additional repayments
Repay weekly, fortnightly, monthly
Owner-occupier & investor
Professional investor
Fixed rate options+
Rate lock option++

Loan Variables
Start-up or established business
Unlimited debt consolidation
Cash for working capital
Full-doc or Low-doc

Application fee^^ $0
Valuation fee^^^ $0
Settlement fee $0
Ongoing fee (annual) $295
Discharge fee $395
Professional investor fee**** $995
Fixed rate lock fee++ $900

Did you know?

Our low-doc home loans are ideal for self-employed people as they combine Liberty’s great low interest rate with a range of flexible home loan features. With our low-doc loans, we expand our thinking to consider alternative ways to prove your income.

If you have a new business, an established business or work as a contractor – give us a call for a home loan or an investment loan that fits your circumstances.

Will it be harder to get a home loan if I’m self-employed?

Many traditional lenders treat self-employed borrowers differently because they don’t earn regular and consistent pay. Unfortunately, this can result in many self-employed applicants being turned away for a home loan.

Thankfully there are more flexible lenders like Liberty that have alternative ways to verify income and can offer a range of home loan options for self-employed borrowers – sometimes referred to as low-doc home loans.

What are my options for a home loan if I'm self-employed?

Liberty has a range of lending solutions for self-employed customers because we offer alternative ways to verify income. Some lenders call this low-doc lending.

As well as business income we can consider the strength of the underlying asset and rental income of an investment property to help get to ‘yes’. Those in the market for a self-employed home loan shouldn’t think the banks are their only option.

What documentation do I need to apply for a home loan if I’m self-employed?

Liberty provides a range of low-doc loans for self-employed customers with varying levels of verification depending on the security attached to the loan.

For a self-employed worker applying for a low-doc loan secured by residential property, we can look at alternative documentation such as bank statements, BAS statements, or a completed accountant’s declaration.

#Quoted rates apply to principal and interest loans. Depending on your circumstances, loan features may vary. Other loan variables may also be used to determine the most appropriate rate and fees for your circumstances. *Subject to LVR restrictions. **Interest Only loans are subject to LVR restrictions and interest rates are higher than advertised interest rates but for further information on this product contact us on 13 11 33. ***$495 fee applies for loans with more than 4 splits. ****Application fee and interest rate loadings apply for company/trust or professional investor applicants with ≥3 properties. +Fixed rates available on request. ++Rate Lock option available at $900 (non refundable) to lock the fixed rate for 90 days from date of payment (must be before formal approval). ^Other fees and charges may apply. Contact us on 13 11 33 for more information on fees and charges. ^^A fee of $995 applies to our Sharp product. ^^^Valuation fee not applicable for loans under 90% LVR. Additional valuation expenses may be payable where the anticipated security property value is >$1.5m, where the security property is in a regional location or for additional securities.