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Lo Doc Loans (short for low documentation) are loans which require less financial information to be provided to the bank for assessment than standard loan applications.

They are useful for individuals who are self employed and have difficulty in substantiating their income, ie: if they do not have up to date financials completed.  Income is substantiated in other ways such as provision of Business Activity Statements (BAS) and/or trading account bank statements, sometimes along with a declaration of income signed by the client or accountant.

The benefit is that individuals can obtain a loan without full financial information however these loans are generally charged at a higher interest rate than standard loans.

We deal with many lenders who have varying offerings in this regard and with our experience, we can assist determine which would be the most appropriate lender for your circumstances.