Our Loans
Low Doc Vacant Land
Low Doc Home Loans for Purchasing Vacant Land to 85% LVR. Generally due to the higher risk factor on vacant land, many lenders do not offer loans on this security.
Our Funders will require either an Accountants verification, 6 months BAS statements or 6 months of Business bank statements to lend to 80% lvr in high population areas inside major capital cities and regional locations with a standard residential zoning.
Advantages:
- No tax returns or assessment notices.
- No financial statements.
- Income Verification is required by either Self Certification or Accountant Verification, BAS Statements or Business Bank Statements or a combination of above.
Disadvantages:
- Generally a higher interest rate if loan is above 60% of the property value (LVR)
- High Deposit Required
The matrix below gives you an overview of product perimeters however it is best to phone or apply online so we can analyse your unique circumstance.
| Applicant type | Individual Borrowers, Discretionary & Unit Trusts and Property Holding or Trading Companies. |
| Employment requirements | Self employed – must be ABN registered. Must be GST registered if Income is over $75,000 PAYG Co-Applicants allowed (must provide full income proof). |
| Income: required proofs | Case by Case depending on lender. Either Self Certification with Accountant Verification or BAS Statements or Business Bank Statements or a combination of above. |
| Maximum Loan amount | $750,000 to 80% LVR
|
| Purpose | Residential Vacant Land |
| Security type | Most metropolitan and major regional centres (post code specific – please ring or email to check). General acceptable Security includes: Zoning of a Residential nature that permits residential usage House or Unit. For exceptions to above please ring or email as there could be lenders available |
| LVR | Up to 80% LVR on vacant land |
| Credit related issues | Paid or unpaid defaults registered over 24 months and judgements accepted. Minor Defaults up to $1,000 ignored.Can be discharged Bankrupts Where the reason is Impaired Credit‚ a detailed account of how and when the impairments occurred; as well as an explanation on how and why the event is no longer an ongoing concern with little likelihood of re-occurrence. |
| Variable, fixed or both | Both |
| P&I, I/O, or both | Both |
| Loan Term | 1 to 30 years |
