But times have changed with the current credit squeeze, with loans often only available now, if you have significant equity and even then we may have to approach a Non Bank Lender, Solicitors Nominee fund or a Private Investor for a loan offer.

Low Doc Home Loans are also known as No Doc Home Loans, Self Cert Home Loans or No Financials Loans.
Provided now mostly by non bank lenders, the common factor is that the requirements to confirm income using the usual Pay Slips, Letters from Employer or Balance Sheet and Accounts are waived. Often the lender is relying on you to estimate your income without the need for them to verify it. A current Registered Valuation will be a key requirement and often the lender will want to meet you personally at the proposed security address.

If you are self employed, a business owner or may be on commission only or have part time or seasonal work a low doc or self cert home loan may be just right for you. Often you will have found out that your normal banker or broker makes it just too hard for you, with too much paper work required.

Usually your loan will be for a 12 - 24 month term with options to either meet monthly interest payments or have repayments included or added to  the loan, which may give you time to increase your income or to sell down.

Contact us for information on home loans with minimal income information required

nofinancials@firstratemortgages.co.nz

or Freephone 0800 178 7283 (0800 1ST RATE)