View product matrix below then click on apply if you wish to qualify for this loan and receive a detailed assessment and full cost proposal.

Low Doc Loans for Single / Duplex Residential Property Construction.
If you are self employed and you do not have up to date company or personal tax returns then a low doc  loan may be the right solution for your lending needs if you are purchasing a residential property.

  • Low Doc Residential loans available to Self Employed Borrowers
  • Borrow up to 75% of GRV less GST to 80% of the Total Development Costs (TDC) – Whichever is lesser
  • Standard Residential Property (must be zoned residential)
  • Companies and trusts and Natural Persons.

The main documents that we will accept that can be used to verify your income are:

  • An Accountants Letter verifying your income.
  • 12 months of Lodged BAS Statements from ATO Portal
  • 12 months of Business bank statements

Most construction finance applications are assessed according to the standard process and many of the same documents are required, along with a fully completed documentation which includes:

  • Signed fixed-price building contract between borrower and a licensed builder Tender
  • Stamped, council approved building permit / stamped plans /  FPBC / Specifications
  • Copy of builder’s insurance policy

With a construction loan, you can break up the drawdown of the loan amount into five progressive draws, which parallel the construction phases. As one phase of the construction is complete, you are able to draw down the next portion of the loan. If you did not borrow 100% of the cost of construction, the lender will request that you pay all the funds you are required to contribute, before they release any payment to the builder.

  • Purchase of the land
  • The Slab / pad (floor – also known as ‘bearers and joists’ for wooden floors)
  • Roof (usually including frames)
  • Lock up
  • Final

The fact that payment is delivered to the builder in stages means that cash is not paid out until the builder’s work can be inspected and approved by the borrower.

You must have an ABN that has been registered (and possibly GST registered if income is over $75,000) Most Lenders require ABN to be registered for 2 years. We have lenders that will accept an ABN registered for only 6 months.

Loan purpose Construction of Residential Property
Loan term 6 months > 30 years.
Interest type Interest only during construction period
Repayment type Reverts to Principal & Interest on Completion
Repayment options Capitalised Interest
Repayment method Capitalised Interest up to maximum loan.
Maximum Loan to 75% of GRV to $1,500,000 Single

70% of GRV to $2,000,000 for Duplex

For higher loan amounts please see Developer Finance page.

Credit history Past credit impairment can be considered if over 2 years at higher rates and fees
Minimum loan size $100,000
Maximum loan sizes $2,00,000
Acceptable Applicants Natural Persons, Companies and Trusts
Contingency Cost to Complete basis that includes a 5% contingency. This will be advanced progressively following ongoing Valuer / Quantity Surveyor inspections.
Pre-Sales no pre-sales required
Current Mortgage Arrears in last 6 months NO
Land Component maximum LVR Up to a maximum of 65% of the project related site value. 100% of the development costs are retained on a cost to complete basis

*Interest Rates: All rates are subject to change without notice. Please check all rates and terms before applying.
Low Doc loans are designed for the self-employed or small company borrower/s whose financial statements may not be available. Reasons for this may encompass: Their accountant hasn’t completed and lodged their financials.