Easy Low Doc Loans in Sydney

Taking a loan for buying a home, investment property, business, or work may seem an uphill task to most borrowers. If you are a tradie, self-employed, or do not have a lot of documents to share, you may find it difficult to take a loan from traditional lenders like banks. But, all is not lost. Local Finance Guru is here to help. As one of the most trusted loan brokers in Sydney, we help you obtain low doc business loans or any other low doc loan type from various lenders.

What Is a Low Doc Loan?

A low-doc loan helps you obtain a loan for buying a home or car, or for business or personal use. It is useful for borrowers who do not have formal tax returns, salary slips, or financial bank statements. In such cases, several lenders allow alternative documents that prove the assets and income of the borrowers.

This helps you access loans as a self-employed worker, employee, or a tradie that are otherwise challenging to obtain. Do consult with an experienced loan broker who can help you with the paperwork and applications for low doc home loans, low doc commercial loans, low doc personal loans, etc.
Alternative Documents for a Low Doc Loan in Sydney

• Self-verified income declaration form
• Business activity statement (latest)
• Bank statements with transaction details
• ABN or your registered business name
• GST details
• Account letter on your financial position
• Tax returns (personal)

Low Documents Loans – Pros and Cons

There are several pros and cons to low doc loans. It is recommended to engage the services of a qualified loan broker to get the best deals. They have long-term relationships with various lenders and can get you the best or lowest interest rate for a low doc loan.

Local Finance Guru has access to various loan products and services that an ordinary borrower does not know about. We will help you save both time and money while applying for a low doc loan. Now, let us look at both the pros and cons of such loans.

Pros

• Fewer documents or paperwork
• Income declaration form accepted
• All loan options like variable or fixed rates
• Both principal and interest and interest-only loans available

Cons

• Higher interest rates than full doc loans
• Limited lender options
• Risk-free or lender mortgage insurance may apply
• A larger deposit may be required
• Higher chances of rejection

Here’s the simple process of obtaining a low doc loan with the help of Local Finance Guru:

Consultation:

Our loan expert discusses and understands your loan requirements, including loan type, loan amount, income, and liabilities

Paperwork:

We help you collect all the required documentation for the application. Please note that a low doc loan is not a zero doc loan

Negotiation:

We approach the lenders on your behalf and negotiate to get the best offers for you, such as lower interest rates, discounts, fee waivers, and easy repayment options

Choosing offer:

Your dedicated loan agent shares the various options with the pros and cons to help you make an informed decision

Disbursement:

We follow up with the lender until the loan is disbursed. We keep you updated until disbursement

Why Consult Local Finance Guru for Low Doc Loans?

As one of the top loan brokers in Sydney, we have multiple contacts with a variety of vendors. Our seasoned loan brokers come with years of experience and help you obtain loans at attractive interest rates.  

Here’s why we are the preferred loan consultant for tradies and self-employed businesses in Sydney:

• Wide range of loans
• Low-interest rates
• High number of lenders
• Low doc loan specialist brokers
• Transparent services
• Honest advice
• Single point of contact
• Quick response time

To get in touch with an experienced low doc loan broker, call us today on 0430 411 466 or mail us at vipul@localfinanceguru.com.au. Local Finance Guru is a full-service loan broker and accredited consultant in Sydney that helps you realise your business and personal goals. Call now!