Should i rating an exclusive zero doc mortgage?

All of one’s big banks and several of your major lenders in australia no more bring zero doc lenders.

The lenders which will help are shorter, specialised low-banking companies you to definitely usually charge a top interest than just the lowest doctor loan which have a main-stream financial.

In addition to this, Loan providers Mortgage Insurance (LMI) isn’t really readily available, so these firms always charges a-1% to dos% software fee to pay for their exposure including control costs. (more…)