How do lenders assess BAS Statements?

The vast majority of lenders add up the “G1” figure (total sales) for the last four quarters and then include 40% of this figure in their assessment or the income that you have declared, whichever is lower. Some lenders use 50% of the total sales or use a different percentage, depending on which industry your business is in. One of our lenders has a slightly more in depth analysis and deducts the costs & wage expenses to calculate a more accurate figure of your income. If some of your wages were paid to you as the director/owner of a business, then this lender may consider adding this wage expense back. Lenders also look at whether you have made a loss in any particular quarter, in order to see if your income fluctuates significantly. In such cases, some lenders may request evidence that you have paid your GST instalment.

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Low doc loans with BAS

Did you know that there are lenders that do not require BAS for a low doc loan? There are a range of income verification methods you can choose from, depending on which documents you can provide. Please refer to our low doc loans section for more information.

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Apply for a mortgage

Our mortgage brokers are experts in low doc mortgages and can quickly work out which lenders you may qualify with. They can then give you a range of loan products to choose from. Please call us on 1300 889 743 or enquire online if you would like to get in touch with a mortgage broker.

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