Published:
Westpac eases home loan rules for self-employed Australians
It now requires only one year of income records, rather than the previous two.
Westpac is allowing self-employed Australians to just use one year of income information instead of the standard two, as a way to make it easier for consumers to get a loan/
This cuts the amount of paperwork in half and is expected to speed up application reviews.
Westpac estimates that the new rules will benefit around two million self-employed Australians.
The update comes as self-employment income in Australia grew 5.5% to $29.5b in the March 2025 quarter, according to the Australian Bureau of Statistics.
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