Accountants letter

Accountants letter

Verify your income with an accountants letterLenders that do not require a BAS will often require you to provide them with an accountant’s letter. This will reassure them of your financial ability and can assist in allowing them to adequately assess your income and loan application, in order to ensure approval.

Example Accountants letter:

To whom it may concern,

I am aware that the Borrower has applied for a loan of $150, 000, through Bank One. Repayment includes monthly installments of $513.33 over 30 years at a variable interest rate of 6%.

Having knowledge of the borrower’s income and expenditure, I deem him/her capable of affording the loan amount and believe that they are in a strong financial position to make prompt repayments.

There are no significant factors, to the best of my knowledge that would hamper their ability to do so.

I confirm that the Borrower is an Australian tax payer and is registered with the Australian Taxation Office (ATO). Further, I certify that I have submitted their recent tax return for ATO assessment.

Date: 12/08/2010
Signed: John P Smith, John Smith Accounting Pty Ltd
CPA: 1234

Many lenders have their own template; however the above is generally all that is required.

How to get approval

If you’re thinking of refinancing and don’t have the sufficient documentation to get approved for a traditional loan, speak to one of our experts today and they can help you apply for a low doc loan!