Hi my friend earns $1800 p/w from Uber and He is been driving Uber one year full time. Can he get a home loan with Uber income?

Hi David,

Typically Uber drivers will be classed as Self Employed and the follow applies in most cases;

Generally most lenders will want to see at least 2 years financials along with an ABN registered for 2 or more years. In some cases they will look at 1 years financials if they have the ABN for more than 2 years.

If he has a large deposit there are some specialist lenders that may be able to help help him out if he does not have the above. In these cases he should be prepared to pay a higher than average interest rate as these specialist lenders work of a rate for risk model, i.e. the riskier you are considered to be the higher your interest rate is.

I hope this helps your friend, let me know if there is anything else I can assist with.

Regards,

Nathan Osinski

Hi David,
I agree with Nathan, your friend would be classified as self employed. He could qualify for a home loan depending upon his total financial position. I would be happy to sit with your friend or both of you to answer your questions and point out a few options that may work.
Thanks for the question
Regards
Scott

Hi David,
What Scott and Nathan have said is spot on, your friend will be classed as self-employed and there are some lenders that have "low doc" policies available but can have LVR restrictions around this too.

I would suggest getting in touch with Scott, as a finance broker he should be able to look into your friend's situation detail and explore more specifically what solutions are possible for them.

Cheers,
Frank