Need Finance and haven’t completed your financials yet?
Accountant just too good with your figures?
Financing your property isn’t out of the question with Greenspan. We can arrange a Lo Doc loan to meet your needs.
Lo Doc loans are not a new product and have matured over the years. Originally introduced to help the self-employed finance property by not showing any financial information, they have developed into loans where some basic information is required to verify that you in fact carry on a business and are trading.
Lo Doc loans are not recommended for borrowers who are not self-employed. Also the purpose of the loan should be for investment/ business purposes.
A minimum requirement is that the borrower has an ABN for a period of greater than 2 years. GST registration is not a requirement unless you earn more than the statuted requirement for GST reporting.
Advantages of Greenspan arranging your Lo Doc loan include:
• extensive knowledge of lenders Lo Doc requirements
• streamlined application process
• structuring your loan to meet your cash flow
• working with your accoutant to obtain maximum tax deductibility of your loan.
Things to look out for with Lo Doc loans:
• The rates may be determined by how much deposit is used.
• Need more deposit that if you took out a “Full Doc” loan.
• You still may have to pay Lenders Mortgage Insurance or a “Risk” fee.
Here at Greenspan, we understand that every client has different needs in regards to their finance requirements and that is why we do everything possible to ensure that we meet those requirements in a professional manner with the expertise and experience we have obtained over the years.
Call us now on 1300 500 300 or fill in the form below to learn more about Lo Doc Loans and understand if they are right for you.