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Some borrowers cannot fully
demonstrate all of the income they have available for
servicing purposes. This is normally due to delays in
completing tax returns for small business operators
or because some elements of their income are not ‘allowable’
for credit assessment purposes. So Lo Doc and No Doc
loans can be approved based solely on the client making
a declaration about their own ability to service the
loan.
These loans will typically have a slightly higher interest
rate and also a lower level of loan as a percentage
of the home or security value (LVR). The credit standard
on this type of loan is very high. Borrowers need to
have clear credit history without defaults and also
be able to show proper conduct of loans, without missed
or late payments.
We have access to over 700 loan products from Basic
Home Loans to Professional Packages.
Once
you have chosen which loan to go with, your assigned
and dedicated mortgage broker will then assist you through
the whole loan application to loan approval and settlement
process, plus, your broker will continue to be there
for you in the future when you need further finance,
property and loan related advice or assistance.
Contact
us today for a free consultation.
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