The low doc / alt doc challenge
Most banks require full tax returns. Low doc lenders accept alternatives.
Self-employed borrowers often have legitimate income that doesn't show up clearly in tax returns - because of depreciation, reinvestment, or simply because returns haven't been lodged yet. Low doc and alt doc loans bridge this gap by accepting alternative income evidence. The trade-off is typically a higher interest rate and lower maximum LVR. Lendology ensures you only go low doc when it genuinely produces a better outcome than full doc with the right lender.
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Income declaration - Most low doc loans use a borrower income declaration form. You state your income and support it with BAS statements (usually 12 months), business bank statements or an accountant's letter. Lendology prepares the declaration to match lender expectations.
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BAS and bank statement verification - Alt doc lenders use your BAS turnover or bank statement deposits to calculate assessable income. Each lender applies a different margin for expenses, so the same BAS can produce very different borrowing capacities. Lendology knows which calculation method works best for your business type.
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LVR and rate considerations - Low doc loans typically cap at 80% LVR, with some lenders restricting to 60-70%. Rates are generally 0.3-1.5% above full doc equivalents. Lendology compares across all lenders to minimise the premium and checks whether full doc with a specialist lender could avoid it entirely.
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ABN requirements - Most low doc lenders require 12-24 months of ABN registration. Some accept shorter trading histories with strong supporting evidence. Lendology knows which lenders are flexible on ABN tenure and which industries they favour.
How it works
The Lendology process
1
Documentation review
We review what income evidence you have available - BAS statements, bank statements, accountant's letter, tax returns (even if incomplete) - to determine the strongest application approach.
2
Full doc vs low doc assessment
Before recommending low doc, we check whether a full doc application with the right lender could achieve the same or better result. Low doc is not always the best path.
3
Lender matching
We identify which low doc and alt doc lenders suit your specific documentation, LVR requirements and borrowing amount - policies vary significantly between lenders.
4
Application and approval
We prepare your income declaration, package the supporting documents and manage the application through to formal approval and settlement.
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Common questions
FAQs
What documents do I need for a low doc loan?
The minimum is typically a signed income declaration form supported by either 12 months of BAS statements, 6-12 months of business bank statements or an accountant's letter confirming your income. Some lenders accept a combination. Lendology identifies exactly what each lender requires and prepares your documentation accordingly.
Is a low doc loan more expensive?
Generally yes - most low doc loans carry an interest rate premium of 0.3-1.5% above standard full doc rates. The premium varies by lender, LVR and documentation type. BAS-verified applications often attract lower premiums than bank statement only. Lendology compares rates across all low doc lenders and also checks whether a full doc application with a specialist lender could avoid the premium entirely.
What is the maximum LVR for a low doc loan?
Most low doc lenders cap at 80% LVR, though some restrict to 60-70% depending on the income evidence provided. With BAS-supported applications some lenders will consider up to 80%. With bank statement only or accountant's letter, LVR limits are typically lower. Lendology matches you to the best LVR for your documentation.
What is the difference between low doc and alt doc?
The terms are largely interchangeable. Traditional low doc loans relied primarily on a signed income declaration. Alt doc is a newer term reflecting the broader range of accepted documentation - BAS statements, bank statements, accountant letters or combinations. Many lenders now use alt doc branding but the product is functionally the same. Lendology compares all options regardless of what the lender calls them.
Can I refinance a low doc loan later?
Yes - and this is often the strategy. Borrowers take a low doc loan to purchase or restructure, then refinance to a full doc loan once they have lodged tax returns covering the required period. Lendology can plan both stages from the outset.
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Local low doc lending
Adelaide suburbs we serve
Low doc and alt doc home loan advice across Adelaide - specialist help for self-employed borrowers and contractors.
Your low-doc lending specialist
Jason Given MFPA
Director & Mortgage Broker
Jason founded Lendology to give Adelaide borrowers honest, expert advice that is genuinely in their corner. His particular strength is in complex and non-standard lending - self-employed borrowers, company directors, trust structures, and anyone whose situation does not fit the standard mould. He holds the MFPA designation - one of the first four awarded in South Australia.
MFPA
Designation
2018
Broking since
60+
Lenders
Low-doc loans
Alt-doc lending
Self-employed
Complex income
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