Heritage Bank never really offered low doc loans; their focus has been on flexible fixed rate loans and discounted basic loans for full doc borrowers. However, with alternate or low-income verification, you can borrow up to 80% of the property with some of our lenders.
For brand new start-ups, an accountant prepared business plan, cash flow and profit projection can be considered by a couple of our lenders on a case by case basis. The maximum you can borrow is 70% of the property value.
To qualify for a low doc loan you’ll typically require the last 6 months Business/Personal Bank Statements plus your choice of:
- 2 quarters' Business Activity Statements (BAS) or;
- Completed accountant’s letter.
Speak with one of our specialist mortgage brokers today by giving us a call on 1300 889 743 or by filling in our free assessment form to discuss your situation.
Cheers,