Low Document Loans

OzBroker specialises in assisting self-employed borrowers with low doc loans, offering expert guidance throughout the loan acquisition process.

Selecting a Low Doc Loan: What to Consider?

Low doc loans pose increased risks to lenders, leading to more stringent conditions and often, higher interest rates. Few lenders offer favourable low document loan options. Here are key considerations when exploring low doc loans:

  • Interest Rates: They may be higher depending on the lender and the documentation you provide. Some lenders we work with offer rates comparable to full documentation loans.
  • Deposit Size: Typically, a 20% deposit of the purchase price is required, though some lenders may accept less.
  • LMI: Loan Mortgage Insurance is generally applicable for loans with over 60% Loan-to-Value Ratio (LVR).

Avoid unnecessary restrictions by discussing your needs with our specialised mortgage brokers at 0426667696 or inquire online.

Securing Approval for a Low Document Loan

Securing approval isn’t straightforward, but our three-step process simplifies it:

  1. Identify document availability, needs, and qualifying lenders.
  2. Choose the lender offering the lowest rates, fees, and premiums with the required loan features.
  3. Submit a well-presented application to the chosen lender.

Remember, providing only the requested documents prevents lenders from demanding extensive financial statements.

Choosing the Right Low Doc Loan Lender

Some lenders excel in processing low doc applications. We suggest considering not only the interest rates but also any hidden fees and the flexibility to refinance to a full doc loan in the future. Contact our seasoned brokers at 0426667696 for personalised advice.

Documentation Requirements for Low Document Loans

Modern low document loans necessitate proof of declared income. Lenders have distinct requirements, but commonly accepted documents include:

  • 12 months’ BAS statements.
  • Accountant’s letter verifying your income.
  • High turnover evidenced by business bank statements.
  • Interim financial statements.

Under the National Consumer Credit Protection Act (NCCP) Act, income verification is mandatory. If unable to comply, a no doc loan may be your alternative. For more information, call us on 0426667696 or inquire online.

ABN/GST Registration Duration

Most lenders prefer a two-year GST-registered ABN, with exceptions made for start-ups with one-day-old ABNs.

Income Reasonability

Lenders assess whether the declared income aligns with age and occupation, ensuring compliance with responsible lending legislation. A favourable asset to income ratio is also beneficial.

Security Property & Total Exposure

Prime properties in sought-after locations are preferred. Most lenders are comfortable with total debts under $1 million, with a select few permitting up to $2.5 million per borrower group, provided substantial assets are in place and the borrowing is a small percentage of the property value.

Equity Releases & Refinances

Proof of loan fund utilisation is required if released directly to the borrower. Lenders often do not refinance existing low doc or investment loans but allow new property purchases with low doc loans.


Navigating low document loans can be challenging. At OzBroker, we offer expert advice to find the most suitable lenders and facilitate smooth transactions. For personalised guidance and more details, contact our knowledgeable team at 0426667696 or inquire online.


Indeed, acquiring low doc loans is still possible. However, there have been more stringent lending requirements over the years.

Some low doc loans, especially those intended for refinancing existing mortgages or those without BAS statements validating declared income, are notably harder to secure.

A low doc loan lets you borrow money without needing to verify your income. Many lenders mandate BAS statements to confirm income, but some lenders do not have such prerequisites! Discover which lenders are willing to assist.

Numerous individuals are in PAYG (pay as you go) employment and are unable to substantiate their income with payslips. However, there are alternative lending options available that do not necessitate income proof.

If you’re struggling with a high-rate low doc loan, know that there are lenders willing to consider refinancing applications, even though many won’t approve them. Use our low doc home loan calculator from OzBroker to see if you qualify!

Low doc loans usually offer the following features:

  • Interest-only options.
  • Provisions for extra repayments.
  • 100% offset.
  • Line of credit.
  • Fixed interest rates.
  • Split loans.

However, some features, like third-party guarantees and repayment holidays, are typically not available with low doc mortgages. When such features or a security change are needed, a new application is usually required for lender review.

Low doc loans are ideal for those with a deposit saved or existing property equity but struggle with income proof, such as:

  • Business owners, freelancers, and casual workers who can’t provide full financials. Businesses that have seen significant growth and whose current income documents don’t reflect actual earnings.
  • Professional investors or those with fluctuating incomes.

Use our low doc home loan calculator from OzBroker or call us on 0426667696 to explore your options!

Yes, if you can offer current business income proof, you should, as it enhances your approval chances and might get you better interest rates. Low doc solutions aim to represent your actual business earnings more truthfully. Misleading financial information will not be endorsed by us for loan approval.

Lenders scrutinise your credit file and debt repayment history more closely as they can’t fully verify your income. While major banks are generally unforgiving of credit issues, we do offer solutions through our specialist lenders at OzBroker for those with poor credit. Contact us at 0426667696 to discuss your circumstances with our brokers.

Refinancing is feasible when you owe less than 80% of your property value on your mortgage, are outside of a fixed term, and can furnish the necessary business financials, including two years of personal tax returns and financial statements, among others.

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