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Low-doc loans making a comeback, analysis reveals

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Julia Corderoy | 09 Sep 2015, 08:02 AM Agree 0
Low-doc housing loans are making a comeback after several years of caution following the global financial crisis, research has revealed
  • Regional Broker | 09 Sep 2015, 08:52 AM Agree 0
    Many of these loans are not genuine Lo Doc products and still require a degree of financial information, such as 12 months bank statements of BAS statements. Also LVRs are much lower than pre-GST.
  • Broker | 09 Sep 2015, 10:32 AM Agree 0
    I don't think the AFR have much idea as to what the real situation is. Perhaps they get their information form APRA or ASIC!
  • Vincent Moore | 09 Sep 2015, 05:16 PM Agree 0
    I hate doing low doc loans. The consumer still thinks it's like the old days whereby if you had an abn even for one day, it was a case of sign this one form and here's your money!

    It's far from being that easy and once you ask for a letter from their accountant, BAS statements, trading statements etc. many clients vanish.
  • No Problem | 10 Sep 2015, 10:33 PM Agree 0
    Happy to consider a self employed applicant as a low doc loans providing they qualify and support the income and application.

    There is a place for self employed Low doc product. It just may be a very small % of all loans which is OK.
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