Sometimes it can be a hassle substantiating your real income!

It may be because you are self employed and don’t have current tax returns or the business financials don’t reflect your precise income; or it may be because you are a fulltime investor and your income is represented in the capital gain of your investments; or maybe you are wage earner who doesn’t get issued with official payslips or your payslips don’t tell the whole income story?

Whatever your circumstance, with a Low Doc loan you are not required to produce the standard documentation such as payslips, tax returns etc that verify your income. Provided you can substantiate the existence of your self employment, business, investment or PAYG employment for a minimum period of at least 1 day to 2 years, you may be eligible to borrow between 85 - 95% of the value of the security property. The loan funds may be used for any worthwhile purpose including Refinance, Purchase, Construction and/or Debt Consolidation.

Additionally, borrowers who have complex business structures may simply find that a Low Doc Loan is more convenient, in avoiding the paperwork jungle commonly associated with certain business structures.

In some cases, you may be required to “self-declare” your income by completing an “Income Declaration Form”.

Low Doc loans can be used for any worthwhile purpose including property purchase or mortgage refinancing and are available as an Investment Property Loan, Equity Home Loan, Debt Consolidation Loan, First Home Buyers Loan, Vacant Land & Construction Loan, Bad Credit Mortgage and Non-Conforming Mortgage.

No Doc Loan (Asset Lend)*

No Doc Loans allow applicants to borrow money for any worthwhile purpose without the requirement of self-declaring or providing ANY income details or verification, provided the loan is secured by residential property.  

Vacant Land purchase and Construction, Mortgage Refinancing, Debt Consolidation, Bad Credit Mortgages and Equity Home Loans are also available with this loan type.

The paperwork is very simple and minimal, as a No Doc loan is essentially an ‘Asset Lend’ against the property being offered as Security. Usually they are restricted to 70% of the value of the security property but in some instances can be extended to 85%.

These loans are as close as you can get to a ‘Zero Paperwork’ Home Loan and are ideally suited to those commencing self employment and/or purchasing a new business!

If you are looking for a loan where the application process involves a minimum amount of fuss and paperwork, then a Low Doc / No Doc Loan may be the loan for you?

Talk to one of our Mobile Lending Strategists as there are some fantastic, not so commonly known Low Doc / No Doc Loan facilities available which can be arranged for both Self Employed and PAYG borrowers with a minimum of fuss.

To find out more, simply phone the Finance Centre on (02) 4633 8700, or email us and we will contact you. Or you can get started now by completing our 10 min Online Application,

* Loans subject to application and approval. Terms, conditions and eligibility criteria apply. Fees and charges may be payable.