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HashChing is Australia’s first online marketplace allowing consumers to access great home loan deals without having to shop around. Completely FREE to consumers, HashChing connects you directly to verified mortgage brokers who can further negotiate a better rate from the lenders and save you time, hassle and money.

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Michelle  B

QLD 4306

May 21, 2018

Michelle  B

QLD 4306

May 21, 2018

May 21, 2018

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Brendan

1 year ago

Michelle, yes there are "low doc" or alternative document loans available to self employed people. You will need to have an ABN. Depending on the lender there may be a restriction on the maximum Loan to Valuation ratio (e.g. 60% or 80%) or the interest rate may be higher. You will find a number of brokers on here who can help. Check out a few profiles and connect with a broker who fits your requirements.

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Scott

1 year ago

Absolutely, almost 1/3 of my business is under this banner, now referred to as Alternate Document (Alt Doc) loans. You can lend up to 90% of a purchase and 85% on a refinance transaction. You are still required to verify your income and this can be done via at least 1 of the following - 1) 2 if not 4 x BAS statements 2) 3 if not 6 months business bank statements 3) An accountant decleration completed on a lender supplied form / checklist You need at least 1 of the above, however, some lenders insist on 2 and as a helpful hint, if you can provide more than 1, it will often given you a cheaper rate than just supplying the one. Please let me know if I can assist you further Scott

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Scott

1 year ago

Hi Michelle, There is such a thing as low-doc loans. There is still some documents required to satisfy the lenders of your financial capacity. If you can expand on your situation you will get some ideas from a number of brokers here.

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