Low documentation (low doc) loans are flexible loans for borrowers who are self-employed. This loan is useful to people who do not work at regular jobs, contractors, freelancers etc who are not able to extend payslips as evidence of income.

So, low doc loans in Melbourne enable you to extend a document declaring your income. You will have to provide accountant’s letter and bank statements as a verification to the declaration document. Some lenders also call it Alt Doc Home Loans. You can borrow up to 90% of the property value like the regular home loans however you might have a higher interest rate as the lenders are taking on increased risk with less documentation.