Many people who run Pty Ltd companies will leave profits in the business, both to help it to expand, and also to reduce the amount of personal tax payable.
You will find that many lenders will not include this income as your own, regardless of how high it is, if it has not been taken out under your personal tax returns.
This can be very frustrating for those that are doing well, yet trying to use appropriate strategies when managing their business finances.
Fortunately there are some lenders who will consider adding back your current company profits, if you are the sole director.
This is a very handy option if you do not want to take out a low doc loan, (which can have extra fees).
There are still hurdles associated with this, which is why it is vital to seek an upfront consultation before applying for your loan, and marking your credit file.
One of those hurdles involves the amount of funds held in your company bank account. This can be viewed in varying ways by lenders.
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