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I would add that this thread was not really for me to justify my loan, but more that I've read here that low-doc loans are no longer available. I've just got one. I was just curious.

I get what you are saying Peter. I am genuinely self-employed in that I do work using my ABN. Is there some grey area? Maybe that is how this is being done. I do know there are no rubbery figures used. I do know I had to have had an ABN for more than two years. This is all above board, with me...

I struggled too :D. One "almost no, slight maybe" came from NAB mobile banker, so he only had NAB loans to choose from. The other "maybe but very difficult" came from a broker with access to other banks. In the eyes of a bank, I own half our PPOR. Hubby has everything else in his name, income...

We pay tax on distribution of earnings but not on any capital drawn (ie we pay tax where we have to). Luckily my brother knows the difference or I would be lost.

Absolutely, but the first two brokers still didn't think I could get a loan easily, if at all. Perhaps they just didn't want to touch a low-doc?

I will get a copy, early days just now. I've known this broker for over 30 years, he is not dodgy in any way. I do believe the fact that the rent more than covers the loan must be part of the reason this was approved (well, not yet, waiting on a valuation). I also have distributions from a...

Pretty much that if I default, they take the house and sell it up to clear the debt.

No funny business. Highly regarded broker, knows his stuff, have never known him to fudge any figures, ever. I'm guessing our asset base comes into play, but haven't seen the application. With a bank lender saying "maybe but difficult" and another broker pretty much saying nobody will lend...

I'm curious to know the situation with low-doc loans right now. I'm told I will be getting a loan 80% of valuation at 4.7% fixed for one year, low-doc. We are just waiting on a credit check and a valuation before formal approval and docs issued. I have read here that these loans are not easy to...