Hard to Prove Income

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Low Doc and No Doc Loans

These types of loans would be suitable if you are one of those people who can not provide the type of documentation normally required by lenders to show that you can afford to make loan repayments.

For example, if you are self-employed you may not have the necessary two years of complete financial records.

What's the difference between the two?

Lo-Doc Loans

This a loan provided on the basis that the you declare what you earn by way of a bank statement and/or GST returns instead of proving what you earn by way of standard income documentation.

  • Offered through defined channels
  • Up to 70% loan to value borrowings
  • Term up to 30 years with up to 5 years Interest Only
  • Must have been at least 18 months in current business
  • Stated income must be within industry benchmarks

No-Doc Loans

This is a loan provided on the basis that the lender relies on the equity you have in a property instead of you having to provide income proof or declare an amount.

  • Up to 65% loan to value
  • Term 3 months to 2 years

The loans described above are not for everyone, and tend to come with higher interest rates, but they fill a gap for certain borrowers who meet the criteria.

Why Use a Mortgage Broker?

Because we can save you time and money

We can even get you that dream home that you might otherwise miss out on. Or enable that development project to build your business.

Find out more about why you should use a Mortgage Broker or just get in touch.

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