That’s St George’s new policy for self-employed borrowers - they no longer accept an accountant’s letter for a company that is not trading.
Their new policy states that:
- If the company is not trading, a letter stating it’s not trading and has no liabilities is not good enough.
- If it’s a holding company then you must state this, otherwise, if it’s a company which is just parked there then essentially if you have no returns then it is not going to work out.
There are a few banks and lenders that can do this who are offering competitive interest rates and that’s who we’re working with.
Give us a call on 1300 889 743 or fill in our free assessment form to find out if you qualify for a home loan.
Cheers,