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Low Doc Loan

Activity of Mortgage Brokers / Help of Mortgage brokers

Activity of Mortgage Brokers

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Activity of Mortgage Brokers

There are many situation, where you need help of Mortgage brokers. For example, you need:

Suitable loan for you

Your Mortgage Broker must talk with you, answer your many questions. This gives him the opportunity to determine which type of loan is most suitable for you.
You will need to provide documents to support your identity and financial situation. Your mortgage broker will advise you of what you need for your particular situation.
If your mortgage broker has an understanding of your objectives and financial position, he will discuss the various loan products available. A mortgage broker should also provide you with product comparisons and inform you of proposed mortgage repayments and any upfront and ongoing fees.

After that, your mortgage broker will search their database containing hundreds of loan products from many different lenders, including major banks, smaller banks, credit unions and other lenders. This database of Premium Mortgage Brokers includes 40+ lenders. We have access to some exclusive loan products which are not available elsewhere.

Manage the whole process

The mortgage broker negotiates on your behalf with the lenders from the beginning of the process and until the loan is settled. Your mortgage broker will help you to complete the necessary paperwork and liaise with the lender on your behalf. Your mortgage broker is also required to inform you of Internal Dispute Resolution procedure.

The responsible lending obligations require a mortgage broker to:

  • Reasonable Inquiries. He make reasonable inquiries of the consumer about their financial situation.
  • Assess whether the credit product is unsuitable for the consumer and only proceed if the credit product is not unsuitable.
  •  Copy of the assessment. He andgive the consumer a copy of the assessment if requested.

Premium Mortgage Brokers are best specialist in SydneySunshine Coast and Brisbane. We also have a list of most popular questions for Mortgage Broker.

How to choose a Mortgage broker?

Benefits of a low doc loan

Benefits of a low doc loan

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Low Doc Loan

A Low Doc Loan (Lo Doc Loan or Low Documentation Loan) is tailored mainly at self employed borrowers who require a flexible lending solution. The best low doc home loan is ideal for someone who has the income and assets but cannot provide financial statements or tax returns as proof of income.

There are many benefits of a low doc loan, especially for the self-employed and small business owners.

So benefits of a low doc loan are:

  • Flexibility – Low doc loans are really flexible. They do not require the same level of paperwork and supporting documentation as other types of loans. So this type of loan allows for borrowers to choose an option that makes the most sense for their individual situation.
  • Range of options – Your broker will help you find the most suitable option for you. Unlike other types of loans, a low doc loan isn’t one size fits all. There are various low doc loan options for borrowers of all stripes. There are low doc loans that specialise towards investors looking to buy an investment property and low doc loans that are for small business owners who are looking to expand their business.
  • Less paperwork –  If you apply for low doc loan, you do not need a large number of documents. Therefore, the application process is much easier. However, you still have to provide proof of your profit. This could be a bank statement, a letter from your accountant or a business activity statement (BAS).
  • The main reason to use low doc loans is because you can not prove your true income.

You have the need for a Low Doc Loan? Premium Mortgage Brokers can help you to get low doc loan in Sydney, Sunshine Coast and Brisbane.

There are many benefits of a low doc loan. Low-income home loans can not only provide consumers with the funding they need, they also come with a wealth of benefits that make them a clear choice for self-employed borrowers.

If you want to know anything else please contact us. You can contact us without leaving home.

What is Low Doc Loan \ Who can get low doc loan / Who can help get low doc loan

What is Low Doc Loan?

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What is Low Doc Loan?

Low Doc home loans (Lo Doc Loan or Low Documentation Loan) is a term used to describe the amount and type of income documentation you’re able to provide to verify your income and support a home loan application. You are unable to get payslips or up-to-date tax returns? Then a ‘Low Doc’ loan may suit you better than a more traditional loan, or what’s called a ‘Full Doc’ loan.

This usually means that you sign an income declaration and provide reduces income evidence. As a rule, it happens in the form of BAS, business account statements or an accountants declaration.

Who can get low doc loan?

When the low doc loans were first introduced , they were only available from a select few lenders at very high interest rates,with restricted lending criteria. Modern day low doc loans are far more readily available. Self employed borrowers usually use low doc loans.

Traditionally,the interest rate offered on these types of loans was higher than for the standart variable rate. Nowadays recently they tend to be offered at only slightly higher interest rates.

Who can help get low doc loan?

You have the need for a Low Doc Loan? Then please get in touch with us . We have many options that we can use to help you obtain finance. We also have a number of private lenders on our panel who may not need any of the above. So Premium Mortgage Brokers can help you to get low doc loan in Sydney, Sunshine Coast and Brisbane.

What is Low Doc Loan? Now you know and you can get it! After reading our post you know that in this case you need help of Mortgage Broker.

If you want to know anything else please contact us. You can contact us without leaving home.