All Topics / Help Needed! / Income assessment for Director of Trustee Company as guarantor to loan

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  • Profile photo of SophieSophie
    Participant
    @seadie
    Join Date: 2016
    Post Count: 1
    March 27, 2016 - 5:15 pm

    Hi guys,

    I’m sure one of you fine folks will be able to help me…

    As a Director of a Trustee Company obtaining a loan, when going guarantor how is your income assessed? Is it the same kind of assessment as if you were an individual seeking a loan, or is less documentation required?

    Thanks so much!

    Sophie

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    March 27, 2016 - 6:33 pm

    Yes it is just like you are borrowing in your own name.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of Corey BattCorey Batt
    Participant
    @cjaysa
    Join Date: 2012
    Post Count: 1,010
    March 28, 2016 - 5:29 pm

    Assessed as per norm as another borrower, same standard documentation requirements in terms of ID, income documents etc.

    Corey Batt | Precision Funding
    http://www.precisionfunding.com.au
    Email Me | Phone Me

    Investment Focused Finance Strategist - servicing Australia-wide

Viewing 3 posts - 1 through 3 (of 3 total)

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