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Buying a dream home worth $3 million is a daunting task for most people, but for Dr. Sarah, a recently qualified surgeon, it seemed almost impossible. With her newfound success, she wanted to buy a luxurious home for herself and her family, but faced a major challenge – her financials didn’t reflect her income as a surgeon, making it difficult to secure a loan. Despite the odds, Dr. Sarah was determined to find a solution and make her dream a reality.
Dr. Sarah had just transitioned from being a PAYG employee to self-employed surgeon. In her first year, her income had increased significantly from $250k to $450k. However, most lenders required at least one year of financials reflecting her income as a surgeon to approve a loan. This presented a challenge for Dr. Jones as she didn’t have one years of financials to prove her income as a surgeon.
After extensive research, Dr. Sarah’s finance broker was able to find a lender who could accept interim financials and provide a mortgage based on limited documents. The lender was willing to accept Dr. Sarah’s recent financial statements and her projected income as a surgeon to assess her loan application. To fast-track the buying process, Dr. Sarah was also referred to a buyer agent who could help her navigate the competitive housing market.
Dr. Sarah was thrilled when she found out that her loan was approved within four weeks. She expressed her gratitude by saying, “I was worried about not being able to buy my dream home, but the team’s expertise and hard work made it possible. I can confidently bid at the auction and buy my dream home.”
Sarah case study highlights the importance of finding the right lender when buying a high-value property with complex financials. Working with an experienced finance broker can be beneficial for those who do not meet the standard loan approval criteria. A professional finance broker can help you navigate the complex loan application process, provide you with options that may not be available to you through traditional lenders, and negotiate on your behalf to secure the best possible loan terms.
Take control of your finances and secure your financial future. Contact MNM Group today to learn more about our comprehensive financial solutions.
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