Bridging Loan

A bridging loan is useful for individuals who are relocating , or who, for whatever reason, need to move in to their new property before they’ve sold their existing home. In this case, the loan is drawn against the equity and value of the existing property and granted to the borrower to allow them to move in without waiting. This is a valuable loan type for many differing reasons.

Low Doc Loans

The low doc loans have been designed for individuals who are able to repay loans but have difficulty in providing confirmation of income. For example, the individuals may not have had their tax returns completed and submitted with the Australian Taxation Office, during the time of their finance application.

The lender usually requires the individual or their respective company to hold an Australian Business Number (ABN). In most cases, the lender can request the individual to provide BAS Statements, if the individual is registered for GST.

The less documentation you provide, the higher the interest rate on the loan is likely to be.