LOW DOCUMENT LOANS
FINANCIALS NOT AVAILABLE
These loans are suitable for the self employed or those who have difficulty in proving their income due to seasonal or incremental issues. These may be due to high levels of cash receipts or the fact that the business has not been able to have it's financial returns completed.
These loans are particularly suitable to those clients who are in the enviable position of having substantial equity in a property, thus meaning the need for lesser levels of borrowing. The maximum loan is generally up to 80% of the valuation of the security properties.
- Location limits, major cities etc
- Amount limits
- LVR (Loan to Valuation Ratio) Limits
- Self certification
- Accountant certification
- Financial Advice may be required
- Most Require Self employed
- May allow PAYG as a co borrower
- Clear Credit History required for most lenders
- Financials not availible
FINANCIALS AVAILABLE
When servicing can be proven from audited financials, self employed borrowers can generally chose from any of the lender's suite of home and investment loan products.
