News Hong Kong Property & Finance

impossible to get a loan

ORIGINAL POST
Posted by UK1971 14 yrs ago
I am looking for some advice? I have lived in Hong Kong for many years and I am struggling to get a loan. I have a ok salary the problem is I am self employed. I am paid directly from clients into my bank or by cheque. As I am not paid on a set date or by a company through Autopay no one will give me a chance. I have tried alos UA Finance, etc... but I have come across the same problem. I would be grateful if anyone has any other ideas for me.

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COMMENTS
dannyboy77 13 yrs ago
I'm self employed and have had no problem getting various loans. Key is you have to have a regular salary which you can show the bank.


Keep cheques paid by clients into a company account (not your personal account) and pay them out regularly at the end of each month to your personal account as a salary. Make sure your income amount is stable (don't pay out 2k one month and 200k next month, keep a nice steady income). The bank will then lend to you according to that stable income. Normally they need around 3-4 months worth of bank statements or your income tax return

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