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Lawform Financial Services Group Pty Ltd
12 View Street, Camden, NSW 2570
12 View Street, Camden, NSW 2570
Low Doc / Light Doc Loans
Low doc home loans are designed for borrowers who would normally not be eligible for a loan because they don't have the necessary proof of income that lenders require in order to verify serviceability. This can be the case if you are self-employed and your financial statements are not up to date or available.
Low doc home loan borrowers must complete a self-assessment of their financial position together with your Accountants sign off or under most policies today prove income via business statements or BAS. Borrowers need to be sure that income declared is true income and can be proven outside company and personal financials. They should also be sure that they have the ability to repay the loan without difficulty. Lenders require a substantial amount of equity in the property being offered as security.
Credit impaired/low doc products are also available but will attract higher interest rates and fees.
Having the right Broker to assess your situation may save you time and money when looking for this type of loan facility.
Low doc home loan borrowers must complete a self-assessment of their financial position together with your Accountants sign off or under most policies today prove income via business statements or BAS. Borrowers need to be sure that income declared is true income and can be proven outside company and personal financials. They should also be sure that they have the ability to repay the loan without difficulty. Lenders require a substantial amount of equity in the property being offered as security.
Credit impaired/low doc products are also available but will attract higher interest rates and fees.
Having the right Broker to assess your situation may save you time and money when looking for this type of loan facility.
