Lo-doc loan options exist for
both PAYG employees and Self-Employed applicants who meet the relevant
lender criteria. These products are designed to simplify the process
for customers who are unable to verify incomes at the time of applying
for the loan.
Lenders who offer Lo-doc loan products or allow an exception to
their lending policy, will accept reduced evidence of income. However,
with this exception comes a trade-off via either a higher rate
charged to the client and/or a lower LVR allowed on borrowings.