Low Doc Finance
| Low Doc Home Loans Low Doc facilities are loan facilities that are particularly popular with self employed clients. They are designed for clients who cannot formally verify their income due to various reasons such as not having tax returns ready, or an unusual occurrence may have happened through the year, which may have impacted negatively on the profitability of a business amongst other reasons. In such circumstances, conventional lending may not be available for these clients. The burden or providing verification of income or profit is replaced with a declaration made and signed by the borrower/s stating what their income and / or profit is or was for the past year. This income declaration is typically not verified by the Lender. However, in some circumstances, it may also need to be signed by your accountant. There is sometimes (not always) a small premium added to the interest rate by the Lender to offset the perceived increased credit risk incurred by the Lender. In saying that, it is crucial that the income declared is genuine & accurate, as should for any reason the application ever be audited by the Australian Taxation Office, you can be held responsible for any discrepancies. We will always act honorably with our clients, and expect the same respect from our clients – particularly when they are completing a Low Doc Declaration. Our Low Doc Finance specialists can assist businesses who are having trouble accessing finance due to a lack of financial statements. Our lenders will look at any application and assess on your experience in the industry and your financial position. Naturally conditions apply, please contact John on 1300 880 221 to discuss your individual needs. Low Doc Car Loans A low doc car loan is a car finance option available to business car loan applicants and for self employed customers. Essentially, you do not need to provide payslips or financial statemetns to obtain a low doc car loan. Comprehensive Lending has access to a range of lenders to provide the best car loan. Car Finance Low Doc Applying using a low doc loan allows a car loan to be obtained without the need to provide proof of income, assets or liabilities. What the lender requires is you to self declare your income. Low Doc loans are popular with: • Self-employed Comprehensive Lending may be able to arrange to finance cars and other items such as business equipment, boats and machinery and trucks using low doc loans. This allows you to get your loan going sooner and without the hassle of having to prove you income. This means you can get going sooner in your new vehicle or other item. Not only are our interest rates very competitive, but we are able to get yout approval quickly. Please contact one of our team for some free advice.
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