For this week’s feature, we are focusing on the Prime Alt Doc product as we can see the rate drop to 2.99% this week with no risk fees in LVR!

In some instances, LVRs offer up to 85%, making it a great product for anyone who has been self-employed with ABN for more than 24 months but cannot present a full two-year tax return.

Take a look at how we helped this particular customer:

Scenario

LVR 70% Refi of OO property – P & I plus deposit and costs for investment property
LVR 70% Purchase of Inv property – P and I
Self employed customer for 8 years

Issues
Customers had not completed 2021 returns and 2020 had Cash flow boost and job keeper that needed to be removed from income causing application to fail servicing. However 2021 and 2022 were a more accurate reflection of the clients ongoing sustainable income

Solution
Prime Alt Doc – using 2 most recent BAS and 6 months bank statements. Under the new policy, this could have been 2 of either Accountants letter, BAS and 6 months bank statements.
BAS and bank statements showed customers current income levels and meant that the prior 2020 covid year did not impact their servicing position.

2.99% for OO refi and deposit and cost loan ( we price on security purpose, not loan purpose)
3.14% for INV purchase – no risk fees at any LVR in Prime Alt Doc

Every customer has different circumstances. That’s why we don’t just push any product to our clients, but we carefully evaluate every individual’s merit and recommend what’s suitable for them.

Planning to buy your home but not sure how to get a loan? Click HERE to book your FREE Assessment.