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Low Doc allows self-employed applicants to demonstrate their ability to afford a loan by signing a declaration as opposed to providing evidence of income.
It is an overlay to all available products except for Construction and Non-Resident.
Low Doc 80
- Self employed applicants; Declaration of income and affordability
- Employed applicants; Usual income verification
- Must be self employed more than two years
- Regulated and unregulated purpose available.
Low Doc 70
- Self employed applicants
- All applicants; Declaration of Affordability
- No minimum period of self employment
- Regulated and unregulated purpose available.
Self Employment
Self employment should be evidenced from Baycorp and / Australian Business Number or from other searches such as www.abr.business.gov.au
Statements
Standard loans free six monthly statements.
Line of Credit free monthly statements.
Interim statements can be issued on request free of charge.
Features
LVR (Loan to value ratio)
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Loan amount
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Low Doc 80
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Low Doc 70
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$30,000 - $500,000
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80%
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70%
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$500,001 - $750,000
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80%
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nil
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Direct Debit
Pay your loan by direct debit weekly, fortnightly or monthly.
Direct Salary Crediting
Have your income directly paid into your home loan account. And use your redraw facility over the phone or via the internet to access your money when needed.
Internal Transfers
Transfer funds to any other loans or to other accounts within the same loan.
Pay Anymore
Transfer funds to any other Australian bank account or to your other loans.
Split Loans
If a Low Doc loan is included in a split loan, all accounts must be either "Low Doc 80" or all "Low Doc 70".
Mastercard Debit Card and Cheque book Access
Mastercard Debit Card and Cheque book can be linked to Low Doc Line of Credit accounts.
Fees
No monthly administration fees.
Green Home Loans - All Wilson National loans carry the carbon neutral logo and are 100% carbon neutral. Because Wilson National is carbon neutral, we offer environmentally friendly loans.
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