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Major wraps up low doc loans

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Australian Broker | 05 Feb 2014, 06:50 AM Agree 0
A major bank has discontinued a low doc loan product, citing the loan's unpopularity as the reason.
  • SIDBROKER | 05 Feb 2014, 09:19 AM Agree 0
    Low docs loans and NCCP (over regulation)don`t mix. If the business has the paperwork then they don`t need a low doc.
  • Broker | 05 Feb 2014, 11:00 AM Agree 0
    "Unpopular " - Now That's funny!
  • Melbourne Broker | 05 Feb 2014, 02:01 PM Agree 0
    It probably has a lot to do with the complexity of the product and the attitude of lender.
  • marty mcdonald | 06 Feb 2014, 11:57 AM Agree 0
    yes very unpopular with apra looking over their shoulder
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