Who I Help · RSU and Equity-Comp Investors
Investment finance for RSU and equity-paid investors.
Half your income comes in shares that vest on a schedule. Some lenders don't know what to do with that. The ones who do can read RSU income properly and your borrowing capacity reflects what you actually earn... not just your base.
Last reviewed
I reply to every enquiry as soon as possible.
Rebecca Tickner
Finance Broker · Property Investor
The Context
What I see come up most often.
Equity compensation is increasingly normal at tech companies, listed financials and large corporates. RSUs, restricted stock, performance rights, ESS shares, options. For investors paid this way, the income is real, taxable and significant. Often it's 30-50% of total compensation. But it doesn't look like a standard PAYG payslip.
Lenders fall into two camps. The conservative camp assesses your base salary and counts RSU income as bonus, which means 50-80% of it gets shaded out (sometimes 100%). The progressive camp accepts a documented vesting history and counts most of it. Same investor, two lenders, very different borrowing capacity.
The difference is rarely about your employer. It's about which lender's policy you're going to. For investors with consistent multi-year vesting from a publicly listed employer, the right lender treats RSU income at 80%+ of its assessable value. The wrong lender treats it like a bonus from a small private business.
The Specifics
The structural and lender considerations I'd look at for you.
Vesting history vs vest schedule
Lenders care about what has vested in the past two years (proven income), not what is scheduled to vest in the future (potential income). The right pack shows the actual cash value of RSUs that have vested and been sold or held over the lookback period. Performance rights and unvested grants generally don't count.
Listed vs private company equity
Equity in a publicly listed company with a clear share price and liquid market is treated very differently from equity in a private startup. Listed-company RSUs from a Fortune 500 or ASX 100 employer are read favourably. Private-company equity, including pre-IPO grants, is generally not assessable as income for lending purposes regardless of paper value.
Concentrating in one stock
Many equity-comp earners hold a meaningful percentage of their net worth in their employer's stock. From a lending perspective this isn't a flag. From a structural perspective, it's worth a separate conversation with your financial adviser about diversification, especially before committing the released funds to property.
Tax implications when vesting funds the deposit
RSUs are taxed as income at vest. If you're selling vested shares to fund a property deposit, the capital gain or loss between vest date and sale date is a separate tax event. Your accountant should be in the conversation before the sale, not after. My side of the work is the loan structure.
Fluctuating vest values year-on-year
Share price drops can swing your vest value materially year-on-year. Lenders generally use the lower of the recent two years to be conservative. If you've had a strong vest year followed by a weaker one, the application may use the weaker one. Timing the application around the lookback window can matter.
ESS and discount-share schemes
Employee Share Scheme purchases at a discount sit differently from RSUs. Some are tax-deferred, some aren't. Some count as income for lending, some don't. The treatment depends on the specific scheme structure. I'll work with your tax position to model it correctly.
Common Questions
Frequently asked.
Will a lender count my RSUs as income?
Some will, some won't. The friendliest lenders accept 80%+ of vested RSU income with a documented two-year history from a publicly listed employer. Conservative lenders count it at 0-50%. Lender selection matters more than negotiation.
What if my RSUs are from a pre-IPO startup?
Generally not assessable as income for lending purposes, regardless of paper valuation. The lender needs a liquid market and a clear share price. Pre-IPO equity is treated as a future asset, not current income.
Should I sell my vested shares to fund the deposit?
That's a tax and financial planning question, not a lending question. The CGT consequences of holding versus selling depend on your specific circumstances. Speak to your accountant first. Once you've made that decision, the loan structure follows.
How many years of vest history do I need?
Most lenders want a minimum of two years of consistent vesting from the same employer. Three years is stronger. Less than two years and the income is generally not assessable, even if the dollar amount is significant.
Can I include unvested RSUs as part of my net worth?
For asset disclosure purposes you can list them, but they don't count as serviceable income. Lenders only assess what has actually vested.
Equity compensation income is real income. It needs to be presented to the right lender in the right way. Done properly, it materially expands what you can borrow.
Written & reviewed by
Rebecca Tickner
Finance Broker, Maxfin · Diploma of Finance & Mortgage Broking Management (FNS50322) · ASIC Credit Rep 571611 · MFAA Member
I built a seven-property portfolio with my partner. I structure clients' finance the same way I run mine.
More about RebeccaOther Specialised Areas