Being self employed can provide some challenges when seeking a loan to purchase a home, investment property or to refinance.
Self employed people generally don’t have the same income pattern or financial structure as PAYG employees.
In these situations a lo doc loan may be worth considering. These loans enable you to self certify your income without the need to provide the lender with your full financial details.
The downside to this flexibility is that lo doc loans may attract higher interest rates and additional fees and charges.
If you are self employed
contact your local broker to discuss what loan options are best suited to your circumstances.