Product:  Lo Doc

Introduction

"Main Stream" financial institutions have strict lending criteria that some borrowers are unable to fulfil, although they would be abole to make the repayments.

Key Features & Advantages

Less documentation is required to prove income, savings history or capacity to meet repayment obligations.

Considerations

Reflecting the additional risk to the lender of providing this product, the interest is generally higher than the traditional loan product

Suitable for

Self-employed
Contract or seasonal workers
Borrowers who have recently moved to Australia
Borrowers with blemished credit histories

Example of product

Bluestone Mortgages' Low Doc

GE Money

Liberty Financial