‘Self Employed’ Articles at Sydney Mortgage Brokers MortgageCorp

admin — Tue, 01 Sep 2009 22:29:35 +0000

Collins Securities has launched a new low doc loan the Aurora Low Doc Premium Loan. This loan is designed specifically for Self Employed clients wishing to purchase residential property. Typically Self Employed people have difficulty sourcing loans at good rates and conditions, the big banks typically requiring company financial statements, copies of BASs even for low doc loans. Collins new product has less stringent requirements of self employed Loan Features:

Competitive rate of 6.47%
80% LVR
Client only required to sign a Declaration of Income
LMI can be capitalised (max 80%)
ABN required for only 2 years
Must be registered for GST if income declared is over $75,000
Principal & Interest or Interest Only up to 10 years
Generous security parameters
Free Online Account Management
Free Redraw
Free BPay

Many of the non bank sector have had difficulty competing since the GFC and are finding niche markets that they can effectively compete with the big 4 banks, Collins seemed to have picked an under serviced market and launched a good product to fit it.

Collins Securities increases Low Doc competition in Non Bank Sector is a post from: Sydney Mortgage Brokers MortgageCorp

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