Are No Docs still around?

[Bradsdad]

Are you looking at Resi?

 

[Bradsdad]

WOW that's strange. You posted question over 2 hours before my reply looking at post times

 

[willy1111]

Hi All,

Can anyone tell me if there are any No Doc loans still around? ie the ones where you don't need to declare income or assets and liabilities.

If so, what lenders, interest rate and LVR will they do.

Any help greatly appreciated.

Thanks

Willly

 

[willy1111]

Yep - std residential - 2 brm unit in melbourne metro less than $400K.

 

[Peter_Tersteeg]

No docs are still around, at 65% LVR. Rates are 1-2% higher than standard variable.

 

[Qlds007]

Yes 65% Nodoc still available on a resi deal and as the guys said slight premium paid.

 

[Bradsdad]

Sorry, should have asked before. For an IP or PPOR?

Also, do you have an ABN and if so for how long?

 

[willy1111]

Thanks guys - any ideas on the DEF/break cost?

Have had ABN long time - just wanting to get around disclosing asset & liabilities and not declaring an income.

 

[Qlds007]

With most of the Nodoc loans still around you still need to disclose Assets & Liabilities but just not an income.

 

[Bradsdad]

Thanks guys - any ideas on the DEF/break cost?

Have had ABN long time - just wanting to get around disclosing asset & liabilities and not declaring an income.

If you wre prepared to disclose A & L's the job would be far easier (up to 80%)
As already stated 65% maybe achievable. I know 1 lender had a DEF for 7 years.

It would help if you stated if it was for IP or PPOR.


Regards
Steve

 

[willy1111]

Soz - it will be PPOR, in personal name.

 

[Bradsdad]

Soz - it will be PPOR, in personal name.

You will struggle.

As stated, you would be more chance with self certification but supplying A & L's


Regards
Steve