Low Doc loans for yellow goods
February 21, 2013 | Comment Comments Off
Just released. Low doc loans for yellow goods. No financials No BAS No accountants letter No trading statements. Must have clean credit and be for business use. Includes, fork lifts and materials handling, excavators, diggers, skid steer loaders, trailers, tankers and earth moving equipment. Similar criteria to low doc car loans:- To qualify for these low doc yellow good... Read more.
Interest rates
November 1, 2012 | Comment Comments Off
Low Doc Home Loans interest rates. Interest rates for low doc home loans can and do vary widely. Currently there are three year fixed rates starting from 5.57% (CR 6.11%). This low doc home loan is available through non bank channels. It is generally in line with normal home loan rates. Remember, you cannot walk into one of the big four banks and get this loan. For Low Doc home loans, n... Read more.
The future of Low Doc Loans
October 10, 2012 | Comment Comments Off
It is now common knowledge that the low doc loans of old have gone. Previously if you had an ABN, had a 20% deposit, and completed a self-certified income declaration then it was fairly simple to get a low doc loan. As the low doc market matured many of the major banks were lending at interest rates the same as or similar to normal full document home loans. This scenario could not last as it... Read more.
Low Doc Loans 70
September 20, 2012 | Comment Comments Off
A Low Doc Loan with a maximum LVR of 70% and NO Lenders mortgage insurance and a cheap interest rate. Low doc Loans requirements Minimum – 24 months trading Minimum – 24 months Business registration Minimum – 24 months registration for BAS What documents do you need to provide for this low doc loan? A signed 12 months Profit and Loss account done via the Management Account... Read more.
Bankwest Low Doc Loans
July 13, 2012 | Comment Comments Off
Bankwest low doc loans have been temporarily withdrawn. These low doc loans were popular as they only required an accountants sign off which was within the low doc loan application form.... Read more.
Low Doc Loans cash out
May 8, 2012 | Comment Comments Off
Low Doc Loans cash out. New Low doc Laon Product will allow up to $250,000 cash out. Product Highlights include; • Maximum LVR of 75%; • Maximum loan size $1m; • Security must be in a Category 1 location and must have a building on it. (No vacant land); • 12 months ABN – Supported by Accountants Declaration • No Defaults, Mortgage Arrears or Bankrupt History; • ATO debts o... Read more.
Hurry, is your low doc loan rate below 6%?
March 2, 2012 | Comment Comments Off
Low Doc Loans rates are moving up as predicted. The interest rates for fixed low doc loans and variable low doc loans are heading up. Since the beginning of 2012 we have seen the rate for low doc loans start to get more expensive. If you currently have a low doc loan and your rate is above 6% please call us on 1300 LOW DOC. Hurry this rate for low doc loan refinances will not last long. Upd... Read more.
Business Car Loans
September 8, 2011 | Comment Comments Off
Interest rates for low doc loans for cars have been again reduced. The rates have been reduced by another .25% This lowering of the rates is good news for small business owners. For all low doc car loans the vehicle must be used for business or commercial use. To qualify for these low doc loans for cars the applicant must be either a sole trader, partnership or company. The small business o... Read more.
Commercial Low Doc Loans
August 10, 2011 | Comment Comments Off
Everyone is now aware low doc loans are definitely harder to get than a few years ago. Having said that, as people become used to the new credit environment, we are now seeing customers start to offer BAS statements. This didn't occur previously. It seems people are now being conditioned by the banks that more paperwork is required when applying for low doc loans. The normal options are either ... Read more.
Low Doc Loans with no BAS
July 13, 2011 | Comment Comments Off
Low Doc Loans with No BAS and no accountants letter are still available. For this low doc loan an ABN for two years and gst registration for one year is required. These low doc loans will require twelve months trading statements for the self employed entity that is generating the income. Currently there is no application fee, no ongoing fee and no early repayment fee with these low doc loans... Read more.
Exit Fees Banned
July 1, 2011 | Comment Comments Off
Starting today, Loan exit fees are banned. This includes low doc loans. This new measure has been designed by government to make home loans more competitive.. “Part 7-2A ‘Prohibited credit fees and charges’ of the National Consumer Credit Protection Amendment Regulations 2011 (No. 2) prohibits charging customers termination fees if a credit contract is entered into on or after 1 July... Read more.
Free Property Market Update
April 4, 2011 | Comment Comments Off
As well as a lot of news in the media about low doc loans there is also a lot of comment about what is happening to investment property prices. With so much differing comment out there in the news it is difficult to know what is really happening, and where the market is heading. Would you like a property market update? Please note this report is free and very detailed. It contains a lot of i... Read more.
Low Doc car loans
March 22, 2011 | Comment Comments Off
LOW DOC Car Loans Low Doc car Loans for purchases are still available in 2012 as long as the vehicle being purchased is to be used for a commercial, or business purposes. Low Doc Car Loans with:- No BAS No Tax returns No Accountants letters No mortgage insurance To qualify for low doc car loans you must have an ABN for at least 24 months, and have clean credit. The vehicle mus... Read more.
Accountants verification only
February 1, 2011 | Comment Comments Off
As everyone is now aware, all residential lending is now governed under NCCP. This can only be a good thing going forward, as it will lead to even more responsible lending. Contrary, to what some media commentators are saying Low Doc Loans are not dead. The whole principal of lending is that borrowers should be able to repay their loan comfortably. So what does this mean for low doc loans? It ... Read more.
Low Doc Loans have changed
January 18, 2011 | Comment Comments Off
From Jan 1 2011, banks have brought in guidelines to comply with the new National Consumer Credit Protection Act (NCCP). Lenders now require evidence that you are able to repay a loan. This means that low doc loans now generally need, either BAS statements, trading statements or an accountants letter, to show that the customer can service a loan. Low Doc Loans are not dead! Low doc loans are st... Read more.
ANZ low doc loans require BAS
November 26, 2010 | Comment Comments Off
ANZ has now joined with the other banks to implement changes to its ANZ low doc loans. This is in line with the responsible lending guidelines under the NCCP. Westpac has been for a long time requiring BAS statements on its low doc loans. CBA has just recently changed its lending criteria and low doc loans policy and now require BAS on all low doc loans irrespective of LVR. Suncorp also require BA... Read more.
Low Doc Loans going forward
November 18, 2010 | Comment Comments Off
We are now seeing low doc loans harder to obtain. There has been a real tightening of credit policy by the banks. The days of the low doc declaration only have disappeared. Banks are now starting to take a "limited income evidence" approach. CBA have just changed their low doc loans policy to require BAS statements on all low doc loans. Further, we have just seen RAMS Home Loans founder Joh... Read more.
New funding available for low doc loans
September 30, 2010 | Comment Comments Off
There is no question that funding for low doc loans has tightened. Having said that, to compensate for that tightening, during the month of September we have seen new sources of funding become available. We now have access to a new 70% product for low doc loans in the Sydney metropolitan area. It does not include credit impaired low doc loans. For development finance, we now have access to a fu... Read more.
Low Doc Loans 70 Refinance
September 2, 2010 | Comment Comments Off
Low Doc Loans 70% refinance with no mortgage insurance. • NO LMI applicable between 60% & 70% • Max loan amount $1.5m on single security and $2m for multiple securities • Available for purchases and refinance (no cash out or consolidation of unsecured debt) • Refinance business debt up to 20% of loan amount • Company and trust borrowers ... Read more.
Low Doc Commercial Loans
August 19, 2010 | Comment Comments Off
Low Doc Commercial loans are still available up to a maximum LVR of 75% on good commercial properties in major metropolitan areas. The maximum loan size at 75% is $1million. Larger loans are available at lower LVRs. Applicants, which can also include companies, must have clean credit and current loan must have been paid on time. This is to be shown through six months loans statements. Specialis... Read more.
Lending for low doc loans tightens
August 2, 2010 | Comment Comments Off
Since the Global Financial Crisis there has been a gradual tightening of credit policy. This has been particularly evident in the case of low doc loans. It has been especially noticeable with the major banks. We are often receive a call where the customer is with a particular lender, they have gone to get a top up or change their existing loan and are now subject to the bank's new lending criteria... Read more.
Low Doc Loans 80% refinance
July 6, 2010 | Comment Comments Off
Low Doc Loans can be used to refinance existing home loans at 80%, however they are harder to get approved due to the tightening of credit criteria by the banks. As a guide the loan being refinanced should be a full document loan and if there are any extra funds being requested then the purpose of these extra funds must be clearly stated. Full Doc Loan to Low Doc Loan at 80% For 80% refi... Read more.
Large Low Doc Loans
May 11, 2010 | Comment Comments Off
Large low doc loans are still available. Many lenders are now capping out their maximum low doc loan amount at $1 million. There is still funding for large million dollar low doc loans above this figure. As a guide you are looking at 1% set up costs and a normal investment home loan rate. Maximum 60% LVR and sound residential security. Cash out available in certain circumstances. Ideal for pur... Read more.
Bankwest low doc loans
April 28, 2010 | Comment 0
Effective Close of business 30 April 2010 Bankwest Low Doc Home Loans will be withdrawn from sale. What does this mean? Refinances will no longer be available, using a Bankwest Low Doc Loan. For purchases there will be the re launch of the Easy Doc Product. This means there will only be one rate irrespective of the LVR. The Easy Doc Home Loan will automatically roll to the Lite Home Loan ... Read more.
Low Doc Loans mortgage insurance postcodes
April 19, 2010 | Comment 0
Low Doc loans are historically divided into two categories. Low Doc Loans without mortgage insurance and low doc loans that are mortgage insured. 60% LVR Generally low doc loans 60% or less do not require mortgage insurance. For this reason they are easier to qualify for. However, they do require 40% equity. Up to 80% These low doc loans are normally mortgage insured, however, it is ... Read more.
Low Doc Construction Loans
March 10, 2010 | Comment 0
Low doc Construction loans are still available for building residential homes in major metropolitan areas. An interest only low doc loan during construction. At 60%, can be done at or near normal home loan rates. The applicant must be an individual and there cannot be more than one building constructed. A Low Doc Loan Construction at 80% can also be done, however there will be a slight ... Read more.
CBA Low Doc Loans increase .25%
March 2, 2010 | Comment 0
CBA Low Doc Loans and ANZ Low Doc Loans have both moved quickly to increase their rates by 0.25% St George Low Doc Loans and Westpac Low Doc Loans have held off moving more than the RBA rate increase as well. Both the CBA and ANZ will also increase their deposit rates by 0.25% as well Are rates heading back to normal? What's normal home loan rates? As a footnote to the above, ANZ L... Read more.
Rural Low Doc Loans
February 15, 2010 | Comment 0
Rural low doc loans now available for loans that have an investment purpose. Generally for a year only, so there needs to be a clear exit strategy so the loan can be paid back. These types of loans are normally low LVR, and it is preferable there is a building on it, although not mandatory. 85% LVR Low Doc Loan for clean credit still achievable in major metropolitan areas. Also Low Doc Loa... Read more.
Low Doc Loans 80 No BAS
February 10, 2010 | Comment 0
Low Doc Loans 80% No BAS now available for refinance and purchase. No Business Activity Statements required. Clean credit only. Available in major metropolitan areas. Must be zoned residential and have a building in sound condition on the property. Rates are different dependent on upon whether it is a refinance of an existing low doc loan, or a purchase. Rates as per the home page. If you a... Read more.
Low Doc Business Loans
January 28, 2010 | Comment 0
Low Doc Business Loans may be available for applicants that want to purchase a new business. The low doc loan must be secured against an investment property. If the total lending does not exceed 65% there may be no need for ABN or GST registration as long as applicant has a strong asset position. This type of low doc loan is well suited for applicants in one field of work who wish to buy a small ... Read more.
Westpac Low Doc Loans
January 18, 2010 | Comment 0
Low Doc Loans LVR change. Westpac The maximum LVR on Westpac Low Doc Loans will be reduced from 82% to 80%, effective Wednesday 20 January 2010. This change will also apply to existing customers that have low doc loans that need to be re-originated as a result of a top up. If a customer pays the mortgage insurance separately (or upfront) the total low doc loan amount will still be 80% ... Read more.
Difference between Low Doc Loans and No Doc Loans
December 19, 2009 | Comment 0
What's the difference? As a guide Low Doc Loans can be on either owner occupied, or investment properties. They require an income declaration. Should have an ABN for 2 years and be registered for GST. A normal LVR is 60% without mortgage insurance, and 80% with mortgage insurance. Rates on low doc loans are either at, or near home loan rates. Normally a term loan of 25-30 years. No Do... Read more.
Low Doc Loans to return through AOFM
December 8, 2009 | Comment 0
Low Doc Loans may be back with AOFM investment. Up to 10 per cent of loans funded under the next planned round of $8 billion in investment may be low doc, though still secured over the borrower’s home.... Full article from The Sheet ... Read more.
Westpac low doc loans rise .45%
December 1, 2009 | Comment 0
Westpac low doc loans rise .45% after RBA only moved .25%. This move by Westpac is proof that banks do and will move low doc loan rates as they please. Often we hear from low doc loan customers that they are concerned the non banks may be more expensive. This move by Westpac clearly dispels that argument. Treasurer, Wayne Swan has been less than impressed with Westpac's extra rate increas... Read more.
RBA Interest Rates for 2009/2010/2011/2012/2013
November 9, 2009 | Comment Comments Off
The rate for low doc loans is partly driven by RBA interest movements. RBA interest rates are normally set when the bank meets on the first Tuesday of each month, except January. 2009 RBA interest rates for 2009 • Tuesday, 3 February 2009 rates decrease 1% • Tuesday, 3 March 2009 No change • Tuesday, 7 April 2009 rates ... Read more.
Low Doc Loan variable rates rise again
November 9, 2009 | Comment 0
The four major banks, CBA low doc loans, ANZ low doc loans, Westpac low doc loans, and St George low doc loans have all passed on the rate rise again, meaning the variable rates for low doc loans have risen by at least .25% again. This is on top of the .25% increase that occurred on Tuesday October 6 2009. Low doc loans have risen a total of .5% in the last two months. The next meeting of the Rese... Read more.
Positive Credit Reporting
October 22, 2009 | Comment 0
GOVERNMENT TO INTRODUCE “POSITIVE” CREDIT REPORTING Responsible lending under the proposed National Consumer Credit Protection Bill 2009 (NCCP) is designed to ensure that consumers are not provided or suggested unsuitable credit for their circumstances. In early October, Senator Joe Ludwig, Special Minister of State, announced proposed reforms to the Privacy Act and Regulations. An expos... Read more.
Low Doc with credit default
October 20, 2009 | Comment 0
With banks and mortgage insurers, it is becoming more difficult to get Low Doc loans with credit defaults. We have seen the mortgage insurers refuse to insure low doc loans with any sort of default. These low doc loans are commonly called credit impaired low doc loans. One of the main criteria looked at with these credit impaired low doc loans, is the size of the default and whether or not it ... Read more.
Low Doc Loans still available without BAS
October 14, 2009 | Comment 0
Are Low Doc Loans still available without BAS? Yes. As the major banks have tightened their credit policy in regards to Low Doc Loans, it is true that they have become more expensive. The question is how much more? We are already starting to see some evidence of Low Doc Loans without BAS being quoted at high rates. However, Low Doc loans without BAS are still available at or near home loan rate... Read more.
Variable interest rates rising
October 9, 2009 | Comment 0
With the large four banks increasing variable rates, Low Doc Loans are set to get more expensive. We are now also starting to see the emergence of two types of low doc loans. Low Doc loans with BAS statements and Low Doc Loans without BAS statements. Don't be surprised if there is another rate increase for low doc loans before the end of the year. We are also starting to see some lenders add a ... Read more.
CBA increases fixed rate Low Doc Loans rates
September 29, 2009 | Comment 0
Fixed rates for Low Doc Loans on the move up again. Low Doc Loans are getting more expensive. In the last six weeks we have rates for fixed rate low doc loans move over one percent. As a footnote to the above, CBA are now requiring BAS statements with their 80% low doc loans. There is still alternative low doc finance out there at 80% for both purchases and refinances that do not need BAS. ... Read more.
RAMS increases its fixed rate low doc loans
September 18, 2009 | Comment 0
RAMS has increased its fixed rates for low doc loans today for loans 1-5 years Further effective 24 September 2009 All RAMS Low Doc loans applications are to be supported by the following:- 1. Business Activity Statements (BAS) for the past 12 months and ATO Lodgement Reference Number AND 2. The last 3 months account statements evidencing payment of tax as advised on the BAS. As a foo... Read more.
What is the future for Low Doc Home Loans?
September 11, 2009 | Comment 4
Low Doc Loans have been around for many years. Previously low doc loans were done through solicitors funds at around 66%. Over time, the banks then started to slowly start to enter this space. In 2005, the RBA commented about Low Doc Loans. For the full article. With the beginning of the credit crisis in 2008, there was a general tightening of lending across the board. Much of this was t... Read more.
