Hello
I have only recently registered to this site, however, have been reading people's advise for a while.My question is:
Does anyone know of a lender that offers low doc loans without needing any financials such as BAS statements.
This is for a re-finance of 80% LVR or higher with a cash out facility such as a LOC.
Further, does this lender have competitive interest rates.Thank you in advance if you are able to answer my question.
Turi
What you are after is referred to as no doc loan
http://www.canstar.com.au/interest-rate-comparison/compare-low-doc-home-loan-rates.html.But I am not sure what LVR you can get.
http://www.echoice.com.au/mortgage/home_loans?pn=/info/home_loan_types/no_doc_home_loan.html
but sometimes they are referred to as low doc
see http://www.stgeorge.com.au/loans/home-loans/first-home-buyers/low-doc-home-loan.asp
http://www.scopehomeloans.com.au/lo-doc.phpHi Turi
Same response as i posted on SS
As far as I am aware there is only 1 lender left who is doing lodoc refi with "cash out" without the need for BAS or Trading Statements.
Purchases are slightly different and upto 85% is still available if you are happy to pay for it.
Richard Taylor | Australia's leading private lender
very hard to place this type of loan in this current market
Hard but not impossible there is a difference.
Richard Taylor | Australia's leading private lender
Thank you for your replies. I think I have to face facts that I may have to put my port filio on hold for a while and with any luck the lenders ease up a little.
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