Where to Find the Best Low Doc Loans in Australia


admin October 1, 2017

Low Doc Loans were big in the 80’s in Australia. Banks could charge a few percent more on the interest rate, bypass some of the checks and measures, and hand out buckets of cash to whoever wanted it. They loved it because they made more money from it!

Things have changed.

What Is A Low Doc Loan?

Low Doc Loans  are loans where the customer does not have to show financial statements or pay slips. They only sign a statutory declaration saying they earn an amount of money. The Banks accept this without checking it.

Who Is A Low Doc Loan Perfect For?

Business owners are busy running their business. Doing their tax return is often the last thing on their mind. A business owner has many stresses. Generating an income and completing jobs is usually their focus.

The Banks do not understand business owners very well. All they care about is what net profit is showing on their tax returns. Low Doc Loans are perfect for customers who have not done their tax return yet. Nevertheless, there is another reason Low Doc Loans are prevalent. Most of us claim as many expenses as possible to reduce the amount of tax we have to pay.

The Banks use this net profit figure to determine your affordability for a new loan. Therefore, on paper, you might not look like you can afford a loan. A Low Doc Loan might be your only option. It is certainly your quickest and easiest option, and there are some outstanding Low Doc Loans available.

Do Banks Still Give Low Doc Loans ?

Yes, but they do not like offering them directly to the customer. Instead, they like to go through the finance broker channel. Brokers like LoanBay have direct access the right departments to secure their customer’s great low doc loan deals with no fuss. Even better, the low doc loan process is usually much quicker and easier because the Banks do not have to assess your income. You simply declare what you earn, and they do not check.

Are The Low Doc Loans Deals Any Good?

Gone are the days of excessive pricing for Low Doc Loans. By using a finance broker who deals in Low Doc Loans every day, you can find great deals that compare well to regular loans. Processing of Low Doc Loans is effortless. You only need to declare your income and sign the Statutory Declaration, and no income checks are done.

What Can I Get  Low Doc loans For?

You can get a Low Doc Loan for almost anything. A new work, vehicle, a house, plant, and equipment. Speak to one of the Low Doc Loan Lending Specialists at LoanBay on 1300 11 70 30 to see if you can get a great Low Doc Loan for your purpose.

How Long Does It Take?

Your Low Doc Loan can be auto-approved the same day in most cases. If the Banks want to assess the application for some reason manually, expect an answer the next day. When you speak to your LoanBay Low Doc Loan Lending Specialist, they will be able to give you an exact timeframe and guide you to the best offers.

How To Apply For  Low Doc Loans

The best way to apply for a Low Doc Loan is to call a LoanBay Low Doc Loan Lending Specialist. You will spend 5 to 10 minutes on the phone giving them basic information including your name, address, phone number and details of your work.

Simply let your Lending Specialist know how much income you want to declare, and they will process your Low Doc Loan application straight away. Low Doc Loans are simple for Banks to process because they do not have to assess your income. You will get an answer super fast, possibly on the spot.

When Will I Receive The Funds?

Once your Low Doc Loan has been approved, you will get the funds quickly, usually the next day. Your LoanBay Low Doc Loan Lending Specialist will give you an accurate period in your initial chat.


Low Doc Loans are a great option because they are quicker and easier to secure and we can show you who has the best Low Doc Loan deals on the market at any given time. Save time, effort and money.

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