Popular with self-employed people, these loans require less documentation or proof of income than most, but often carry higher interest rates or require a larger deposit because of the perceived higher lender risk. In most cases you will be financially better off getting together full documentation for another type of loan. But if this isn’t possible, a low doc loan may be your best opportunity to borrow money.
Low doc loans are available for purchasing residential property, commercial property and for commercial property development. We have access to a range of private lenders for clients not wishing to borrow through a mainstream lender or are unable to satisfy a lender’s conditions.
Making an appointment with a broker sooner rather than later will help put you in the right position when you are ready to buy.
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The current buffer is 3% above the actual rate, however a small number of lenders are now assessing refinances with a 1% buffer which improves serviceability. T's & C's apply.