Popular for self-employed without current tax returns.
Low doc/ no doc
- These options are popular among self employed people whose financials and tax returns aren’t up to date.
- It is the easiest option for those who are self employed as less information is required.
- These loans can have a higher interest rate and require a larger deposit, so doing something more to attain financials could be a better alternative.
- The loan may over look non-existent or poor credit ratings.
- These loans help people who have trouble showing their income on official documentation.
- Allows retirees to access equity in their property to help fund quality of life or aged care needs.
- Gives you the option to draw down on a lump sum or regular part payments, but does not force you to make any repayments during the loan term.
- Interest is repaid on the death of the retiree, or when the retiree moves out of the mortgaged home permanently.