NO-DOC MORTGAGES
Aug 7th 2007, 8:07 am
#1
South Yarra Sheila
Thread Starter
Joined: Apr 2007
Posts: 1,078
NO-DOC MORTGAGES
Has anyone got a no-doc mortgage? We have a decent chunk of equity but as usual all the places I really like the look of are just a "little out of reach" by about £50K. OH a photographer so will be setting himself up self employed & I will be re-training. We have put aside enough to live on work free for 6 months.
I've heard it may be possible to get a no-doc mortgage when you are not yet in paid employment. Has anyone done this? As it will be such a small amount shouldnt think the repayments would be much even with a higher rate..
Cheers
Jools
I've heard it may be possible to get a no-doc mortgage when you are not yet in paid employment. Has anyone done this? As it will be such a small amount shouldnt think the repayments would be much even with a higher rate..
Cheers
Jools
Aug 7th 2007, 8:08 am
#2
South Yarra Sheila
Thread Starter
Joined: Apr 2007
Posts: 1,078
Re: NO-DOC MORTGAGES
I meant $50K (not £50K)
Aug 7th 2007, 8:22 am
#3
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Joined: Jun 2007
Location: Carramar in Perth's northern suburbs
Posts: 1,129
Re: NO-DOC MORTGAGES
Has anyone got a no-doc mortgage? We have a decent chunk of equity but as usual all the places I really like the look of are just a "little out of reach" by about £50K. OH a photographer so will be setting himself up self employed & I will be re-training. We have put aside enough to live on work free for 6 months.
I've heard it may be possible to get a no-doc mortgage when you are not yet in paid employment. Has anyone done this? As it will be such a small amount shouldnt think the repayments would be much even with a higher rate..
Cheers
Jools
I've heard it may be possible to get a no-doc mortgage when you are not yet in paid employment. Has anyone done this? As it will be such a small amount shouldnt think the repayments would be much even with a higher rate..
Cheers
Jools
I just took out a no-doc loan myself this week. I had to do it that way as my usual bank couldn't help because I am self-employed and have only had an ABN for 17 months; not the obligatory 24 months.
Aug 7th 2007, 8:31 am
#4
Account Closed
Joined: Jun 2007
Posts: 8,913
Re: NO-DOC MORTGAGES
Has anyone got a no-doc mortgage? We have a decent chunk of equity but as usual all the places I really like the look of are just a "little out of reach" by about £50K. OH a photographer so will be setting himself up self employed & I will be re-training. We have put aside enough to live on work free for 6 months.
I've heard it may be possible to get a no-doc mortgage when you are not yet in paid employment. Has anyone done this? As it will be such a small amount shouldnt think the repayments would be much even with a higher rate..
Cheers
Jools
I've heard it may be possible to get a no-doc mortgage when you are not yet in paid employment. Has anyone done this? As it will be such a small amount shouldnt think the repayments would be much even with a higher rate..
Cheers
Jools
We had no jobs. Yet we borrowed $270,000 with a deposit of $170,000.
We bought our house within 4 weeks of being in OZ, no prove of income, no wage slips. We payed $2,000 a month back
Only problem was we paid a higher rate 7.9% with Rams.
After a year we changed Morgage lenders. We are now with Bankwest on a lower rate thankgod!!!
Aug 7th 2007, 10:04 am
#5
South Yarra Sheila
Thread Starter
Joined: Apr 2007
Posts: 1,078
Re: NO-DOC MORTGAGES
Thanks guys it's good to now it can be done.
Will look at Rams website for starters
it's good to now it can be done.Will look at Rams website for starters
Aug 7th 2007, 10:14 am
#6
Just Joined
Joined: Aug 2007
Posts: 4
Re: NO-DOC MORTGAGES
Are these the same as 'lo doc loans', or are they totally paperless
?
?
Aug 7th 2007, 10:15 am
#7
Banned
Joined: Jul 2006
Location: here there,fluck knows where?
Posts: 7,444
Aug 7th 2007, 10:26 am
#9
Crazy Cat Lady
Joined: Apr 2004
Posts: 65,493
Re: NO-DOC MORTGAGES
Lo Doc (Doc Martens - skinhead's fav footwear). I assume. If I'm right it means I'm on the same wavelength as Ast and that scares me slightly
Aug 7th 2007, 10:37 am
#11
South Yarra Sheila
Thread Starter
Joined: Apr 2007
Posts: 1,078
Re: NO-DOC MORTGAGES
not that i was ever a skinhead
Aug 7th 2007, 10:42 am
#12
Banned
Joined: Jul 2006
Location: here there,fluck knows where?
Posts: 7,444
Re: NO-DOC MORTGAGES
i used to get a hot spoon on mine to fix the punctures,i dont think it worked but...it was something to do...
i had a pair off my uncle that were about 3 sizes to big,walking round like ronald mcdonald thinking i was cool...
flippin hell eh..
anyone remember the ski jumpers...?
and those cardigans with the y on?
snotty nose and big ears..good old days eh..
i had a pair off my uncle that were about 3 sizes to big,walking round like ronald mcdonald thinking i was cool...
flippin hell eh..
anyone remember the ski jumpers...?
and those cardigans with the y on?
snotty nose and big ears..good old days eh..
Aug 7th 2007, 1:48 pm
#13
Moved out bush!
Joined: Nov 2003
Location: Chittering WA
Posts: 1,093
Re: NO-DOC MORTGAGES
Yep got one and settled yesterday on our 5 acre block, yahoo!!
Jenny
Jenny
Aug 7th 2007, 1:52 pm
#14
BE Forum Addict
Joined: Jun 2007
Location: Carramar in Perth's northern suburbs
Posts: 1,129
Aug 7th 2007, 9:34 pm
#15
Forum Regular
Joined: Mar 2007
Posts: 86
Re: NO-DOC MORTGAGES
6.4% First Mac No Doc Loan. You can get all the details from their website. Offset aswell, so any savings count in your favour, and they provide bank account etc. Tie-in for first three years, with penalties for early redemption, but not as bad as in the UK... We've just got ours through them for a land purchase. Max 60% ish, and they charge mortgage insurance on top, and they have lots of other little hidden costs. Lots of paperwork (and I do mean lots), but no proof of income (or debts!) required....