Introduction:

At First Aid Finance, we recently had the opportunity to assist Dr John Smith, a psychologist who had recently transitioned from a PAYG role to self-employed private practice. He was looking to purchase an investment property but was facing difficulties finding a lender that would consider his new income source. In this article, we’ll discuss how we helped Dr Smith overcome these challenges and secure the mortgage he needed to purchase his first investment property.

The Challenge:

Dr Smith’s situation was not uncommon, and we understood the challenges he was facing. We have seen many self-employed individuals struggle to secure a mortgage, particularly if they have only recently transitioned from a PAYG role. Traditional lenders often have strict criteria that require a stable income over several years, which can make it difficult for individuals like Dr Smith to secure a mortgage.

The Solution:

At First Aid Finance, we took the time to listen to Dr Smith’s needs and understand his unique situation. We were able to identify a specialist lender that could consider his new income source and was willing to work with him to secure the mortgage he needed.

We worked closely with Dr Smith to gather the necessary documentation, including invoices and interim financial statements, to prove his new income source. We were also able to provide him with a competitive interest rate that was tailored to his specific situation.

Results:

Thanks to First Aid Finance, Dr Smith was able to purchase his first investment property. We were thrilled to have played a role in helping him overcome the challenges he had faced and to have provided him with a tailored solution that met his needs. Dr Smith was pleased with the interest rate he received, which was lower than what he had been offered by other lenders.

Conclusion:

At First Aid Finance, we are committed to helping our clients achieve their financial goals. We understand that each client’s situation is unique, and we tailor our solutions to meet their specific needs. We were pleased to have been able to assist Dr John Smith, a psychologist who had recently transitioned to self-employed private practice, in securing the mortgage he needed to purchase his first investment property. If you are a self-employed individual facing difficulties in securing a mortgage, we encourage you to consider First Aid Finance as your mortgage advisor. We have the expertise and experience to help you find a tailored solution that meets your needs.