Access to finance is vital for one to take part in the economy and start accruing assets that translate into wealth over the long term. Those with a regular salary and decent credit record are often able to access credit fairly easily. However, being self-employed, a freelancer or commission earner is a different ball game altogether. Anyone who has a business or earns money from multiple sources without having a full-time position knows how difficult it is to access finance. To some it may even seem impossible to get a home loan. Tess Rodrigues, MD of Property Factor and an expert in property finance, says it has always been possible for the self-employed to get a home loan, but it requires diligence and meticulous management of paperwork. "Unfortunately, many only wake up to the need for proper financial record-keeping, candid transacting and up-to-date tax returns when finance is required," she says. Geoff Lee, managing executive of home loans at Absa's retail and business bankin...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now