Buying with Insufficient Financials


Buying with Insufficient Financials

The client had entered a contract to purchase an off-the-plan apartment in Brisbane.  However, in between paying his 10% deposit and settlement he had bought a business with his brother.  While the business was a solid investment, the trading history under their ownership was short.  Settlement had been called and he still hadn’t obtained finance.  He was also looking for a substantial cash out against his owner occupied property to fund some renovations and business purchases.


Strategy & approach

BAS statements and flexible cash out policy

Due to the short trading history a decision was made to use the last 2 BAS statements.  The business was doing sufficiently well over this time period that even after accounting for his brother’s share of the partnership income he could service the loan.  A lender with flexible cash out policy was sought.   While the rate was slightly higher than PRIME rates at the time, this allowed settlement of the purchase and no loss of deposit.  The lender chosen allowed less than 1 year trading history and while the rate was higher than a PRIME rate, it more than compensated the potential loss of over $70,000 in deposit.



I had to settle on a property that I purchased off the plan few years ago. Due to covid I had a lot of challenges with my new business and I was struggling to settle my investment property and was in danger of losing my 10% deposit. Adam was able to source a lender who was able to use my BAS statements and managed to get the settlement extended slightly and finally managed to organize the funds to settle on the property. The property has been rented from day 1 and its value has appreciated significantly in a very short time. Nothing was too hard for Adam. He was able to find a solution when others put it in the “too hard”. basket. I am working with Adam on other solutions now and have referred him to a number of friends and he has been able to find solutions for them. I have been dealing with Brokers for more than 30 years now and Adam Stewart is the best I have come across and I recommend him highly.

Kush Naidu

Self-employed investor