We know that brokers are increasingly looking to diversify their business and stand out in a competitive market. And one area we hear about time and again is a desire to better support self-employed customers.

Many Australians still work for themselves, whether they’re tradies, consultants, or small-business owners – they’re a vital part of our economy.

Importantly, there are signs that business confidence is picking up. Research we’ve seen indicates that capital expenditure plans outside of mining have jumped, suggesting more businesses are preparing to invest and expand. That’s a strong signal for brokers – when business owners feel optimistic, they’re more likely to seek funding to buy a property, upgrade their home, or expand their business.

But some of the challenges for brokers include the time required to gather and interpret business financials, as well as uncertainty around the lending process and the steps required to get the right outcome.

That’s why we’ve made several policy enhancements to make it easier for brokers to support business owners in reaching their home ownership goals – for example:

  • Business overdrafts can now be amortised over 10 years, rather than seven.
  • Pre-existing fixed rate asset finance repayments will be assessed using actual repayment amounts, rather than applying an interest rate buffer.
  • Director fees and company dividends for self-employed customers now require only one year of income documentation, rather than two.
  • These updates complement ANZ’s other home loan policies, designed with business owners in mind. Depending on the self-employed customer’s business structure, we generally only require:
  • A minimum of one financial year’s individual tax return and corresponding ATO notice of assessment, which can include the prior financial year’s lodged records.
  • A minimum of one year’s business tax return and, where applicable, a profit & loss statement and balance sheet.
  • For eligible self-employed director and shareholders of a company paying themselves a regular wage, we simply need: a valid ABN/ACN registered for at least 18 months, one payslip dated within 60 days, and the most recent ATO income statement (providing this shows a minimum of six months’ year-to-date salary).

We’re continuing to invest in tools and training to help brokers support business owners with both home and business lending.

With the new ANZ Broker Portal, brokers can now access the residential and commercial lending information they need in one place. Our Brokerology resources also offer practical guidance, from understanding financials to submitting dual applications.

Supporting business owners doesn’t have to be complicated. A great starting point is their home loan. And when brokers are ready to explore business lending, they can reach out to their ANZ residential broker manager for a referral to our commercial broker team or speak with their aggregator.

We’re excited to partner with brokers to help business owners thrive. By having broader conversations with customers, now’s a great time to stand out in the market and stay ahead of the competition.