Income History Requirements
How long an income source needs to have been received before lenders will rely on it — the minimum history requirements for PAYG, self-employed, rental, and variable income.
Core Assessment Analysis
Standard PAYG applicants must provide their two most recent consecutive payslips showing YTD earnings. For self-employed directors, banks demand two full years of individual and company tax returns. For contractors (e.g. IT contractors, consultants), lenders review the current contract and prior tax histories to verify income continuity.
Why Underwriters Focus Here
Lenders verify the reliable and permanent nature of income to protect against transient salary spikes.
Key Outcome Assessment Factors
Contract expiry dates, YTD figures matching base salary parameters, and the presence of direct salary deposits in bank statements.
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