High Lend Low Doc

Who can apply for a High-Lend Low Doc Loan?

We have access to lenders who offer up to 85% LVR low doc home loans for purchases and refinances and up to 90% LVR for purchases only. These low doc loans are best suited to borrowers who are self-employed and looking to provide alternative documentation as proof of income.

What documents are required for application?

Lenders requirements can vary however most will require one or more of the following alternative documents:

  • Income declaration
  • Business bank statements
  • BAS statements
  • Accountant’s declaration

Proof of ABN and GST registration will also be required.

Quick facts

  • As lenders regard these types of loans as higher risk, the location and type of security property is extremely important and lenders can reduce/restrict borrowing amounts based on this.
  • The interest rates charged by lenders are typically higher when compared to full doc loans and are dependent on the loan to value ratio (LVR).
  • LMI is generally not required as most low doc lenders will charge a risk fee instead, which is about 1-2% of the loan amount and varies depending on the overall LVR and lender.
  • Defaults and arrears considered (depending on the lender)
  • Borrowers can be Individuals, Company or Trusts
  • Refinance and cash out allowed

If you are looking for a low doc loan contact one of our specialists today to discuss how we can help you find the best solution for your circumstances.