P Pele 12th Dec, 2002 #1 Gday Can someone please tell me what no doc low doc and cross collaterilisation means? Thank you. Pele.
Gday Can someone please tell me what no doc low doc and cross collaterilisation means? Thank you. Pele.
geoffw 12th Dec, 2002 #2 Low doc loans are one where you can get a loan without having to prove income, assets etc. See post http://www.somersoft.com/forums/showthread.php?postid=31117#post31117 for some further info. Cross collaterisation is where the lending institution uses one property as security for another- eg, if they take second mortgage over your house to cover deposit for an investment property.
Low doc loans are one where you can get a loan without having to prove income, assets etc. See post http://www.somersoft.com/forums/showthread.php?postid=31117#post31117 for some further info. Cross collaterisation is where the lending institution uses one property as security for another- eg, if they take second mortgage over your house to cover deposit for an investment property.