Either way, we should be able to assist you. We can arrange No Doc
loans with an ABN number from just 1 day old to Full Doc loans with just 9 months as
a self-employed applicant (with interim financials). Give us a call for a
free no-obligation consultation and we will be happy to see if we can assist
Self Employed less than 2 years ?
lenders are not prepared to assist you if you have been self-employed for less
than 2 years. If you have had industry
experience and you financial position can support the loan then some lenders
will be prepared to assist you.
Low Doc loans
There are a sizeable number of workers either self employed or currently working on a contract basis. Whilst they are financially sound, it is often difficult for these borrowers to prove
a level of their earnings to the satisfaction of the lender. Low Doc or Low Documentation loans allow you to self-certify your income. Options include whether the lender will waive
or charge you mortgage insurance or not. With Low Doc loans, mortgage insurance starts from 60%. Generally this becomes an interest rate
compromise if you would like to avoid this cost.
No Doc loans
No Doc loans can be an attractive option if you would prefer not to declare your
income and in some cases your assets and liabilities. As a general rule though you will require a larger deposit for a
No Doc loan. No Doc loans are effectively a form of an asset lend.