Alt-Doc (Flexible Documents)self-employedalt-doccarlton
Carlton Restaurant Owner, 4yr ABN: $1.0M Alt-Doc Home Loan at 80% LVR
Carlton multi-venue restaurant owner, 4yr ABN, $280k BAS net but $78k taxable income — declined by two big-4s. Halo Loan placed it on alt-doc: $1.0M at 80% LVR, 7-day formal approval at 6.49%.
- Loan amount
- $1,000,000
- LVR
- 80%
- Turnaround
- 7 business days
Client Profile
- Industry: Carlton Italian restaurant owner (two-venue operation), Pty Ltd structure
- ABN tenure: 4 years 8 months
- BAS net profit (last 12 months): ~$280,000
- Taxable income (most recent ITR): ~$78,000 (70% suppression via add-backs)
- Spouse: PAYG designer, $95,000 (joined the application)
- Deposit: $250,000 (savings + $80,000 parental gift with explanation letter)
- Target: owner-occupied Carlton inner-ring 4-bedroom townhouse, $1.25M
What Blocked Them
The client first approached two of the major banks:
- Bank A: calculated servicing off the $78,000 ITR taxable income → borrowing capacity $520,000, nowhere near enough
- Bank B: accepted the $280,000 BAS net but applied a 30% add-back haircut (worked off $196,000) → borrowing capacity $960,000, but required LVR ≤ 70% (deposit top-up of $115,000)
- Core friction: the client's $250,000 deposit was already at the limit of available cash. The $200,000 gap between ITR and BAS was being driven by add-backs the majors discount away.
"My business clears $280k a year. Why is the bank saying I can only borrow $520k?"
What Halo Loan Did
| Action | Reasoning | Day |
|---|---|---|
| Repackaged on the alt-doc pathway | Replaces full ITR with 6 months' business statements + 4 quarters BAS + accountant declaration | Day 1 |
| Coordinated with the client's accountant on add-backs | Depreciation / interest / one-off renovation costs / spouse wages can be added back to servicing income | Day 2 |
| Combined spouse's PAYG income into servicing | $95k PAYG full credit, lifting total servicing capacity | Day 2 |
| Locked specialist lender + two indicative offers in parallel | Two lenders in the pool specialise in hospitality cases and aren't restrictive on Carlton's commercial-adjacent risk flag | Day 3 |
| Formal submission + valuation coordination | LVR 80% (20% deposit) is within specialist-pool appetite | Day 4 |
| Formal approval | Rate 6.49% p.a., LVR 80% | Day 7 |
The Outcome
- Loan amount: $1,000,000 (owner-occupier)
- LVR: 80% (deposit of $250k landed exactly)
- Rate: 6.49% p.a. variable (entry point for the specialist alt-doc pool)
- Monthly repayment: $6,310 (30-year P&I)
- Formal approval: 7 business days
- Saved: didn't need to top up the deposit by another $115k; settlement proceeded as planned
Related Reading
- Alt-doc home loan pathway — 18 lenders, rates from 6.49%, LVR cap 80%
- Self-employed home loans hub — full 4-pathway comparison
- Melbourne self-employed mortgage broker — Carlton / Richmond / Fitzroy suburb risk map
- 5-step application process — mobile pre-check to settlement
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