Not all lenders require BAS statements!

Since the introduction of the National Consumer Credit Protection Act (NCCP), most lenders require you to provide Business Activity Statements (BAS) to support your declared income.

You’ll generally need to provide your last 12 months’ BAS statements but what if you can’t provide this?

The good news is that there are a few select lenders that offer no BAS low doc loans with rates that are often lower than the Bank Standard Variable (BSV) rate!

How do I qualiy?

As a general rule, you must meet the following criteria:


Why does each lender have different requirements?

Each lender will require some form of income evidence to support the income that you have declared, as this is now required under Australian law.

However they can choose any number of methods to verify your income. Most lenders prefer to obtain BAS statements, however some will accept an accounant’s letter or business bank account statements instead.

Please call us on 1300 889 743 or enquire online to discuss which methods of verification will work for your situation.


What if I’m not GST registered?

Obviously if you aren’t registered for GST then you can’t provide BAS statements!

One of our lenders will still allow you to apply for a low doc loan. The income that you are declaring must be under $75,000 or there is some reason why you would not need to be GST registered.

Please see our page on getting a low doc loan with an accountants letter.


What if my ABN is not 2 years old?

  • 1 year old ABN: You can borrow up to 60% of the property value at a discounted interest rate or up to 80% with a very select number of lenders.
  • More than 2 years old ABN: Normal policy applies. You can borrow up to 80% of the property value at discounted interest rates.

What if I apply with a lender that needs BAS statements?

You will need to provide your last 12 months of BAS statements issued from the ATO (not the copy that you sent to the ATO). You can print these from the ATO’s Business Portal or by asking your bookkeeper / accountant.

The lender will usually look at the turnover of your business during the last year as shown on your BAS and assume your income to be the lesser of 40% of your turnover or the income you declared. Consultants and other business types that have low expenses may be able to declare an income as high as 80% of their turnover.

In other cases, lenders may also ask for 3 to 6 months of business bank statements as evidence of genuine savings to assist in their assessment. Lenders may also ask for other documents such as your annual GST return or evidence that your quarterly GST bill has been paid by the due date.


How to apply for a mortgage?

Enquire online or call us on 1300 889 743 to talk to a specialist mortgage broker who knows how to get you a competitive low doc loan without the need to show your BAS statements.

  • Jeremy553

    I have a 1 year old ABN so can you guys help me get a low doc loan?

  • Hey Jeremy, we can help you borrow up to 60% and find a lender that can offer discounted interest rates even if you have a 1 year old ABN. Please call us on 1300 889 743 to speak with one of our low doc loan specialists or enquire online:
    https://www.homeloanexperts.com.au/free-quote/

  • Dianna

    My bank asked me to provide 12 months’ BAS but I can only provide two of these. Is there no way we can get them to accept just the two?

  • Most lenders require 12 months’ BAS, however, some of our lenders can accept only one or two Business Activity Statements to assess your income. Please call 1300 889 743 to speak with one of our low doc mortgage brokers to find out what options you have.

  • Fred F

    What if I want a 90% low doc loan? Is this possible or is 80% the max lend?

  • Borrowing as much as 90% LVR is possible with a low doc loan, although it can be prohibitively expensive. You can expect to pay over 9% p.a. for this type of loan. Only the bravest of lenders are willing to approve loans with no income evidence and a smaller deposit. You can check out the high lend low doc page for more info:
    https://www.homeloanexperts.com.au/low-doc-loans/high-lend-low-doc/

  • Twa

    What about getting a no doc loan to buy a commercial property? This should be possible, right? Up to how much can I borrow for this?

  • Hello Twa,
    Yes, this is possible. You can generally borrow up to 65% of the commercial property value with a low doc commercial loan. Please check out this page for the full details:
    https://www.homeloanexperts.com.au/commercial-property-loan/no-doc-commercial-loan/

  • Hom

    What’s the max I can borrow on a low doc construction loan if I can provide BAS?

  • Hi Hom,

    We can help you borrow up to 80% of the value of the land plus the cost of construction. Please note that you must be using a licensed builder / you must be a licensed builder and you must have an ABN.