How we helped a self employed tradie get a loan from Wave Money that helped him buy an investment property.
For servicing we used Wave Money Accountant’s Declaration, a simple one-page form that:
- Doesn’t require the accountant to state or verify an income figure
- Simplifies the submission process for self-employed clients
This streamlined approach gave a fast result without the back-and-forth often seen with traditional Alt Doc verification.
Step 2: Servicing that reflects reality
Wave Money applies commonsense and a future perspective to self-employed investor clients.
- Actual repayments (No buffers) on existing loansExisting loans assessed at actual repayments
- Calculated on 25-year P&I basis
- No additional buffer applied
- Credit card flexibility that makes senseMichael runs his business expenses through a credit card with an $80k limit, using the 55-day interest-free period and rewards points that fund two trips a year.
- Other lenders flagged that limit as a problem — adding 3.5% of the credit card limit into servicing and requiring the card be reduced or cancelled.
Wave Money took a different view
Statements showed the card had been paid in full for three consecutive months, demonstrating discipline and no ongoing exposure.
So, we applied a $0 card balance in servicing.
The Outcome
✅Loan serviced at NSR 1.14 (Investor minimum 1.10)
✅No card reduction or cancellation required
✅Alt Doc income accepted via Accountant’s Declaration
✅Loan Approved
