When it comes to providing a variety of low-doc loans, we think we do pretty well. These are mortgage products for people that can't provide the same paperwork that someone employed by a company might be able to bring forward. It requires a bit more flexibility, and the unique mortgage solutions that we offer mean that almost anyone who is self-employed or unable to secure traditional lending could find something that suits their situation.
To highlight how people from all walks of life can find what they need with us, here are three characters from The Simpsons that could use our help!
As the owner of the Kwik-E-Mart, Apu is a true blue self-employed businessman in the world of The Simpsons. As such, to buy property he would need a wide array of documents to qualify for his first home loan.
— The Simpsons (@Simpsons_tweets) July 19, 2015
If he was buying in Australia, Apu would have to provide his Australian Business Number, proof of income from at least the last 12 months, GST registration and perhaps even substantial financial statements for the last six months. At Mortgageport, we love the Kwik-E-Mart, and would be happy to help Apu along every step of the home loan process.
Another small-business owner in Springfield, Mr Szyslak spends his nights running Moe's Tavern, a haven for beer-drinkers everywhere. However, as Australian Small Business Commissioner Mark Brennan has noted, small business often struggle with cash flow. And considering the meagre business that Moe's Tavern appears to do, he might need some help securing a unique loan with a high LVR.
At Mortgageport, we could help Moe find a loan that doesn't break the bank, allowing him smooth payments over a loan term. We walk every step of the way with our clients, and could find a flexible solution for small-business owners who might not have the greatest cash flow.
As Springfield's resident washed-up actor, Troy McClure has a stagnant career and a home that is in desperate need of some TLC. He might benefit from a refinancing deal that helps him buy a new property, or perhaps lets him unlock equity to renovate.
"You may remember me from such information kiosks as 'Welcome To Springfield Airport' and 'Where's Nordstrom?'." pic.twitter.com/b0HsZvA4r6
— SimpsonsQOTD (@SimpsonsQOTD) September 11, 2015
But due to the nature of his work, he might not have any steady income. He would need contract details or some significant capital to make a home loan work – yet another situation where the flexibility afforded by working with Mortgageport could come in handy.
While these are fictional characters, they are financial situations grounded in reality. With the Australian Prudential Regulatory Authority noting that $96 billion in home loans were approved in the June 2015 quarter alone, it's important to manage your money carefully! Talk to us about how to get it done.