Generally financial institutions like to see the last 3 years of a self employed applicant’s financials and work history for employees. They approve loans based on a number of criteria one of them being your ability to repay a loan by looking at your net profit after expenses or payslips. They tend to average your income out over a 3 year period.

Now that’s all well and good but what if you have only just started a business (12 months and under) or only been in a job for a short amount of time. If you have a property asset to borrow against and a fairly good understanding of what you will potentially earn for the next 12 months then a Non Conforming loan maybe the solution.

Maybe you do actually have financials but you have had a couple of trade disputes which has resulted in a default or judgment on your credit rating? Or perhaps your credit is ok, you have financials and you need to consolidate debt but because you have fallen behind in repayments the banks just don’t want to know?

So what is a Non Conforming loan?

•	A non conforming loan means just that, it does not quite conform to traditional banking criteria!
•	You may not need to provide tax returns and financial statements to qualify
•	You may not need to prove rental income if buying a rental
•	You may only need to sign a statutory declaration stating that you are aware of the loan repayments, how much you earn and that you can afford the loan
•	You may be able to qualify if self employed or employed
•	You may have only been in business for a short time
•	Your credit history may not be the best

We are professional NZMBA accredited mortgage brokers. It is our duty to understand the market and educate you on available options that best suit your requirements. Many of the consultants here at World Wise have gone from being employees to self employed and understand what it takes to make that transition.

We understand the relief it can bring to have a no obligation non judgmental discussion with a professional that can assist with

•	Giving you a financial solution
•	Getting you on track and taking you from a non conforming loan back to a much cheaper loan.
•	Giving you back your precious time by organising and taking away another project you just can’t seem to find the time for but is absolutely necessary.

If you would like more information on Non Conforming loans please complete the inquiry form and one of our specialist finance consultants will contact you TODAY!

Alternatively call us on Phone/Fax 09 437 1092 to arrange an appointment to discuss your scenario with us in person.