No Doc Loans

Some lenders offer speciality loan solutions, such as No Doc loans for the self-employed or those who have a unique set of circumstances, where they are unable to provide company financial documents or tax returns as proof of income.

These types of loans are unregulated and as such are usually provided by private lenders or private funders. As these loans come with an increase in risk to the lender the borrower will often be charged much higher interest rates and other fees.

Under the National Consumer Credit Protection Act (NCCP) funds secured with an unregulated loan can only be used for business or investment purposes.

• You will need to provide a declaration which states you have the ability to repay the loan. It is usually not a requirement to declare your income.
• The value of the security property is critical as this type of loan is asset based therefore you will only be able to secure a loan if there is equity in your property.
• No LMI
• No Credit checks
• Arrears and defaults acceptable
• Principle and Interest and Interest Only repayment options available
• Fewer requirements for documents

• No LMI
• No Credit checks
• Arrears and defaults acceptable
• Principle and Interest and Interest Only repayment options available
• Fewer requirements for documents

If you have a difficult loan scenario, Mortgage Providers has direct access to Private Lenders who may be able to assist. Contact us for a free assessment of your circumstances.