Low Doc and Equity Releases

We offer straightforward financial services that help you make smart decisions with your money. We are experts in our field and take the time to understand your needs, constraints, and values so you can achieve financial security.

  • Low Doc Loans

  • Alt Doc Loans

  • Equity Release

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Low Doc Home Loans Oakliegh

You may have heard of low doc and alt doc home loans if you're self-employed or own a small business and don't have the required documents for a standard home loan application.

LET'S SET SOME GOALS TOGETHER?

What is a Low Doc home loan?

What is a low doc home loan? Low doc loans are a way for small business owners, freelancers and other ABN holders to meet the requirements of a loan application. They are designed for customers who otherwise wouldn’t be able to get a home loan due to their inability to validate their earnings using traditional methods. These types of loans rely on self-verification of income, which may require a supporting letter from an accountant and your recent bank statements.

What is an Alt Doc Home Loan?

Alt Doc home loans still require supporting documents and go through our full credit assessment criteria. However, the documents we ask for are more flexible and meet the lending standards of today. Alt Doc loans are a way for Australia's many self-employed people to get loans even if they don't meet the usual requirements or don't have the long ABN history and paperwork that some mainstream lenders want.

Mortgage Advice

This feature allows employees to include a vehicle in their remuneration package. Under a novation agreement, the lessee's duties are transferred to the employer. This arrangement lets the company pay monthly rent from the employee's wage tax-free.

What does Equity Release Mean?

Now that you've calculated the equity, the question is how you'll get your hands on it. The equity is 'released' through a top-up with your present lender or a remortgage to a different lender if they can provide a better offer for your circumstances. Both allow you to borrow against the value of your home.

The top-up option allows you to borrow more cash on top of your current mortgage, which may be completed fast. Because it is a fresh application, a remortgage to release equity (refinance) will take longer.

What can I do with an Equity Release?

Once you've collected equity, it's a good idea to know what you might be able to do with it. Equity release loans are permitted by lenders for specific purposes. Acceptable purposes include

  • Releasing equity to purchase another property
  • Releasing equity to do non-structural renovations to your home.
  • As a deposit for your next home or investment property
  • To invest in shares
  • Purchasing or investing in your business
  • To purchase a new car or a holiday
  • Debt consolidation (credit cards, personal loans)

You must clarify with the lender that the objective of your equity release is acceptable. We have a good relationship with our lenders at Mint Financial Solutions, and we can work with you to ascertain this.

Using Equity in Your Home

If you own a property, whether it's your own home or an investment property, you probably have some equity. Now, you can use this equity to help you buy an investment property, make repairs, or do other things.

Equipment Finance Solutions for All Your Business Needs

Equipment finance includes loans for a wide range of things used at work, such as vehicles, computers, hand tools, and machinery. The goal is to keep you running smoothly even though your needs have grown.

Your area of expertise is figuring out what equipment to buy that will help you better meet the needs of your market. Our expertise, on the other hand, is being able to give a clear picture of the current factors that make financing work.

Mint Financial Solutions has a team of experts who can help you find the best equipment finance in Oakleigh and all over Melbourne. In a competitive market, it's important to be able to pay for things quickly and easily.

Whether you're looking for vehicle equipment financing or money for something else important, the first step is to figure out what you can afford to pay back and when.

Mint Financial Solutions FAQ

How much deposit do I need for a low doc home loan?
For low doc loans, Lenders Mortgage Insurance is usually applied if you borrow over 80% of the total purchase price. Borrowers usually need a higher deposit. Most lenders will require at least a 20% deposit for low doc home loans.
What is low doc home loans?
Low-doc loans are a way for small business owners, freelancers and other ABN holders to meet the requirements of a loan application. They are designed for customers who otherwise wouldn't be able to get a home loan due to their inability to validate their earnings using traditional methods.
How much equity release can you borrow?
With equity release you can borrow around 20% to 60% of the value of your home with a lifetime mortgage, or as much as 80% to 100% of the property's value if it is a home reversion scheme. Equity release is commonly used to release money that is tied up in your home and the minimum age requirement is 55 years old
Can equity release be paid off early?
Can you repay equity release early? If you want to – yes you can, absolutely. However, it's important to reiterate how an equity release lifetime mortgage is designed to remain in place for the remainder of your life or whilst your health allows you to remain living in your main residence.
How does equity loan Work Australia?
A home equity loan allows you to borrow against the equity you have in your home to invest in shares or property, repay your debts, renovate or pay for lifestyle expenses. House prices have risen rapidly across most of Australia, giving home owners a readily available and inexpensive source of credit.

We'll Secure Your Future Without Sacrificing Your Present By Helping You Plan & Achieve Your Financial Goals

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