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ANZ recently changed thier LO doc policy, everything needs a full val. Bankwest used to take contract price low doc under certain circumstances, not sure if they still can, that was pre gfc.

Generally speaking, low doc is a policy where the lender is taking a stated income, without as much verification as a normal loan. as such, they require everything else, like credit history, A & L, the state of the security to be spot on. the security here is not spot on, and if that is all...