Low Doc Loans Home Loans

Fixed Low Doc Home Loan: Ins and Outs

If you’re in the least familiar with the financial terminology, you know that low doc loans refer to those loans that can be acquired with minimal paperwork. Because of this, they are mainly for self-employed people or entrepreneurs with small-sized businesses.

Of course, low doc loans can refer to any type of loan, from a mortgage and a car loan to a business loan. Now, there seems to be a misconception going around saying that all low doc loans are utterly devoid of dangers.

We’ve said it as many times: no loan, regardless of its purpose, is 100% safe. In the following, we will outline both the advantages and the disadvantages of getting a low doc loan for your home.

The Upsides of A Low Doc Home Loan

These loans are fantastic for freelancers/self-employed people

The requirements of the banks are harsh, and they really don’t care that you can, one way or another, repay the loan.

You have to provide proof of your income, tax returns and other documentation that is difficult to muster when you’re your own boss. In this respect, low doc loans are the best alternative.

The interest rates are fixed

You won’t need to worry that all of a sudden, the interest rate grew to alarming quotes. They will always stay the same. That’s why these loans are called “fixed.” You will have full control on the repayments, and the rates won’t fluctuate.

This can happen to loans taken out from a bank, but not with low doc ones.

The credit score isn’t a problem

Go to a bank with a low credit score, and you’ll be looked at like you are some kind of tedious criminal. Your chances of actually getting the loan you need fall under 50% or even less. The lenders that provide low doc loans are not as concerned with your rating as banks are.

This is mainly because they can understand the reasons why your credit score is chipped, as long as it’s not a consequence of not being good with handling finances.

Now, since we’ve seen the perks, we have to take a look at the cons. Eventually you’ll be able to decide whether low doc loans are a good choice for you or not.

The Downsides of A Low Doc Home Loan

Higher interest rates

This isn’t universally applicable, that’s why we recommend you compare many loans before you choose one. Usually, low doc loans come with interest rates that are higher than those you’d pay on a bank loan.

But then again, you cannot get that bank loan, so this isn’t something you can change. In some cases, you might be required to pay the LMI (Lender’s Mortgage Insurance), which is an additional cost you wouldn’t have paid for a loan taken from a bank.

They may not be as flexible as you may think

When you go to a bank, the representatives will show you tons of loans with adjacent features. A private lender, on the other hand, does not have as large a catalogue of options, so banks definitely win at flexibility.

If the mortgage rate goes down, you’ll be paying more

This means that the period you planned on repaying the loan will be lengthened. This isn’t really much of a tragedy, but it can be annoying when all you want is just to get rid of debt sooner than later.

The Importance of Comparison with a Low Doc Home Loan

No two low doc loans are the same. Before you make a decision, compare the lenders and check out these aspects: interest rates, the documents required from you, the flexibility of the loans and the terms.

The one that has the best features should be the one you choose to go with. Unfortunately, many people today undermine the importance of this comparison. To be fair, it’s their fault. It certainly doesn’t take that long to make sure your decision won’t be something you’ll regret in the future.


Purchasing a house is no small thing. Purchasing it with borrowed money even less so. If you’re not in the position to get a loan from the bank, your only solution is to get a low doc one.

Now that you know both the perks and the pitfalls of this type of loan, you can make an informed decision. For additional information, feel free to contact us on 1300 138 188 for a free consultation.

Ask for a low doc home loan, and you’ll be getting instructions from professionals that have helped many other people that were, at some point, in the same predicament as you are now.

And make sure, for your own sake, that you’ll be comparing at least five loans before sticking to any of them. You sure don’t want to get some terms and interest rates that are anything but okay.

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Low Doc Loans Q&A

In recent years, more and more Australians have relied on low documentation loans to get some needed money more. However, many are actually unaware of what a low Documentation loan actually is. Loans with low documentation are an actual tool that everyone can use at their disposal when they cannot get their loans the traditional way. As the name suggests, they require minimal documentation, but how could this benefit you? Read this low doc loans q&a and find out answers to the most recurrent questions about low doc loans.

Most Common Questions about Low Doc Loans

1. What is a Low Doc Loan?

Low-documentation loans are financial services aimed towards those who find it hard to muster all the documents required in the case of traditional loans. Low doc loans can save them from all the hassle and the stress they’d go through in trying to talk with the representatives of a bank. These can also come in handy for those individuals whose credit scores are poor since private lenders will not put as much stress on that as banks and other institutions.

2. Will my income affect the final decision? 

Definitely. No matter what type of loan you consider taking, your income will be a crucial aspect that creditors will take into consideration. Whilst banks may only look at your income, we also take a look at your alternative sources of income.


Why? Because sometimes, even though one has enough money to repay the loan, their form is rejected because he/she added his/her alternative income there. Alternative income can originate in a multitude of sources. Freelancing, for instance, to mention just one.

Low doc loans are fantastic in this respect. You will be able to get your loan because your creditor will see that you earn additional money outside of your salary.

3. How are the interest rates on these loans?

Unfortunately, the stories that these loans have higher interest rates than traditional loans are true. You are still seen as a high-risk borrower. Therefore, creditors will use higher interest rates as security. Moreover, you should expect to pay some additional fees you wouldn’t usually pay at a bank, for example.

But in the end, all of these are worth it if you’re going to get the money you were looking for. Just make sure you won’t have to return twice the sum you’ve borrowed. Many people have been ruined financially because they didn’t pay enough attention to what they were actually getting themselves into.

4. Who are these loans intended for?

People from all walks of life can apply for low doc loans. Usually, it’s real estate investors, self-employed individuals and other business owners. As a rule of thumb, all those who find it difficult to provide the tons of documents that banks request can easily get their hands on money through low doc loans.


5. Can I refinance a low doc loan?

Yes, you can. You can shift your low-doc loan to a standard one whenever you please. But you should be aware of the fact that it’s not cost-free. In fact, the costs of shifting to a standard loan might be too high to be viable.

If you can find some other loan from a creditor that won’t rob you blind, then you can definitely consider refinancing, especially when you’d get better interest rates and a better term. It all depends on your needs.

Refinancing doesn’t make sense when you don’t get better terms, so don’t make the mistake of losing the money you can’t afford to lose.

6. Are they safe?

If you have good money management skills and you know what you’re doing, then yes, they are safe. Moreover, in order for a loan to be safe, your creditor has to be a trustworthy one. It won’t do you much good to borrow money from anybody that poses as an unreliable lender on the Internet. And of course, you should not get the loan if you’re not confident that you can repay it.


Now you’ll be able to make informed decisions, and subsequently, avoid any problems that may come along the way. In case you want to know even more about this topic or you’re seeking professional advice, call us on 1300 138 188 for a free consultation or enquire with us today.

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3 Important Factors to Consider When Applying for Low Doc Loans

Are you applying for low documentation loans? Learn more about them and the factors to consider when applying for low doc loans.

Emergencies happen, and when they do, it could be that you have very little money or none at all to fix until your next payday comes in. With no bank savings to fall back on, and such little time to make quick decisions, especially if it’s a medical emergency, where would you get the stash of cash you need? When you’re a small business owner or self-employed with no tax returns or financial documents to submit to banks, low doc loans can be the most logical, if not the only choice.

While you may be in a rush to apply for the first low doc loan option you come across there are important things to consider when choosing the most appropriate loan alternative for you.

Here are some of them:


Not everyone can apply for low document loans. Only self-employed borrowers who have legitimate reasons for not submitting proof of income, such late filing of tax returns, can apply.

Low doc loans do not require the usual documents used by banks and big lending forms to verify income, such as payslips, financial statements and tax returns. Instead, you are only required to sign an income declaration form that will be the basis of their assessment. Most lenders ask low doc loan applications to declare their assets and liabilities and some lenders may ask you to include this in your income declaration form. During the assessment, lenders usually check whether your income, assets and your age match.

At the Australian Lending Centre, our team of loan specialists strives to keep the proof of income and documentation at a minimum. If an income declaration is the only thing you can present, well, that’s enough for us! Who knows? You may qualify for a loan of up to $3 million.

Interest rate

One of the big factors to consider when applying for low doc loans is the interest rate. It’s important to shop around and make sure that you get the lowest one available in the market, without the hidden charges.

Low doc loans offered by some banks and financing institutions may come at extra costs because of reduced financial documentation. One strategy is to present more financial document to lower the interest rate. You may be required to pay extra fees and charges and higher deposits. Others require security such as investments, cars and other properties. But you want none of that; we can offer you the most competitive rates suitable for self-employed borrowers without the heavy paperwork. We are also known for fast turnaround and processing times.

Credit rating

Finding low doc loans with lower interest rates is difficult when you have a bad credit rating. You may need a little more time to get your good credit rating back, as it would depend on your credit payments. But, if don’t have the luxury of time or the money to pay them as soon as you can, the Australian Lending Centre offers low doc loans for people with bad credit. You may want to avail of our low doc car loans, home loans and personal loans. You may also try our low doc investment loans to support your dreams.

Learn more about our low doc loans. Contact us today!

Low Doc Loans

Lenders Kick Doors Open With Low Doc Personal Loans

New reforms work wonders to help self employed borrowers get the right low doc personal loans!

Lending has become better regulated as to protect high risk borrowers and create a responsible lending atmosphere. Lending to someone who lacks documentation can be risky, but with good policies in place, the risks can be mitigated.

The Australian Lending Centre protects borrowers with tailored low doc personal loans!

Better Policies – Better Borrowing:

  • Cross-checking information provided by borrowers
  • Policies ensure the right borrowers are granted low doc personal loans
  • A more fair market is being created by ASIC policies
  • Low-doc loans from banks have declined from 6.4% to 0.7%

With banks steering clear of the low doc loan market, the small to medium lenders are willing to understand the borrower’s situation.


“To protect borrowers, we only lend to those that have the ability to repay their loan.”


Low doc personal loans are a type of loan that can be granted with less documentation, but we still check it makes sense to lend. To improve outcomes for borrowing we consider other factors, not all Australians can have a consistent pay check, but all responsible Australians should be given the chance to apply to borrow money.

For low doc loans that fit your situation, contact Australian Lending Centre and stop rejection due to restrictive bank policies.


Low Doc Self Employed Loans

At 25 years of age, Carl was yet to build a significant credit history. Having recently started his own business, using his own funds as start-up capital, he had credit card debt to the value of $2,700 and he owed $10,800 on his car loan.

When his repayments fell behind, he decided to obtain a loan to pay his debt down in order to stop the calls from creditors.

Like many other Australians, his credit record was negatively affected by less-than-ideal debt management. Years of inconsistent income had turned in to growing debt and late payments.

People applying for low doc self employed loans generally have to produce 12-months’ worth of BAS statements, and they wanted 6-12 months’ worth of bank statements as well. Most banks also demand letters from company accountants to verify their income.

Australian banks are notorious for their strict lending practices, which have caused many people to give up on the search. However, Australian Lending Centre may just have the solution to your problems.

After Carl applied and received his low doc self employed loan, Carl was able to pay off his debt, and begin recovering his credit.


Low Doc Personal Loans in Australia

Policies on responsible lending are changing. The new standards have made it safer to borrow by passing some of the responsibility to the lender. While you must still be able to show the ability to pay back the low doc personal loan, your lender must also make sure they are lending to a responsible borrower.

Low doc loans lenders, such as Australian Lending Centre provide a go-to solution for people with insufficient documents, or poor credit scores. We work to tailor low doc personal loans that can provide you with the funding you need to pay your debts down and avoid a default.

Don’t be dissuaded by the strict regulations of Australian banks. Remember that the Australian Lending Centre offers low doc personal loans at great rates, and with 48-hour approval.

If you are missing the documents required by banks then you are searching for a lender with different requirements, a lender like the Australian Lending Centre. Call us on 1300 138 188 or Apply Now!