LOW DOC SELF EMPLOYED HOME LOANS IN NZ

Low doc home loans in NZ are normally used to help self-employed individuals, commission only contractors and small business operators, purchase a home. Low doc mortgage lenders, which are generally Non Banks, come with terms from 12 months to 30 years, and with  low doc home loans being as high as 80% of the property valuation, this provides opportunities for those who want to buy a home, start a business, or require extra funds for expanding their business or investing.

You might have been to your Bank, who insisted on at least 2-3 years of financial accounts prepared by an Accountant. If your Bank averages your incomes over this period and you have had one bad year, like through Covid, it can ruin your chances of getting a mortgage.

Low Doc Loans in NZ can work for you if you have a good deposit, but often as a result of the peaks and troughs that all businesses go through, cash flow has fluctuated and your financials are not strong or not completed at this point. There are also those people who may have multiple sources of income, or a small business as well as a job and their Bank will not help.

More enquiries are also being received from those semi retired, or they are being questioned on how long they intend to work for.

We work with a number of Non Bank low doc mortgage lenders and Private lenders that provide up to 80% finance, common sense income verification solutions, which can help you with non-conforming low doc loans. Call today to chat to one of our friendly team members.