Low-Doc Home Loans
Low doc mortgages in mortgage broker speak are “specialist” loans. This means that we have a Client who, for some reason, doesn’t have all the documentation (tax returns, etc.) available to lodge an application, but requires the funding prior to the documentation being ready and is prepared to accept a higher interest rate and potentially less favourable terms to secure the property.
Low-Doc Home Loans
Low doc mortgages in mortgage broker speak are “specialist” loans. This means that we have a Client who, for some reason, doesn’t have all the documentation (tax returns, etc.) available to lodge an application, but requires the funding prior to the documentation being ready and is prepared to accept a higher interest rate and potentially less favourable terms to secure the property.
Low-Doc Home Loans
Low-Doc Home Loans
Typical scenarios might be a self-employed applicant with an outstanding tax bill, or, a large profit on which they would like to delay the payment of tax for as long as possible but have Business Activity Statements showing solid performance in the interim. You may have just started out in business and are killing the pig, and you’re motivated to buy real estate with some urgency.
These types of loans aren’t typically available from typical lenders, i.e. major banks, but there are a small number of non-bank lenders or specialist lenders that offer surprisingly good terms and interest rates to the right type of customers.
Remember, this isn’t an opportunity to borrow money if your finances are a mess and your business is going backwards. Don’t bother – go focus on making money first.
If you need to borrow at a less-than-perfect time (even to consolidate a tax debt) but have most of your financials in decent order, and things are going well in your business, or you’re coming back from the brink and just want to show the latest 6-months of trading history, we should talk.
HOW TO GET STARTED
There’s far too much to cover here, and a zillion different scenarios with their own unique backstory, so I’m not going to get into minute detail trying to call out to all of you that don’t fit the mould.
The smartest thing you can do is to send an enquiry here with plenty of detail. If it sounds to us like something we can assist with, we will organise an appointment to speak to us.
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