Advantage Plus Lo Doc
Term Loan & Line of Credit
 Austral’s fully featured Lo Doc loans have been designed for self employed and PAYG applicants who are unable to provide documentary evidence of income when applying for a home or investment loan.
Do I qualify?
We make it easy by not asking for verification of your taxable income.
You are required however, to complete a Declaration of Financial Position, confirming that the repayments will not adversely impact on your capacity.
Self employed applicants must demonstrate a minimum of 2 years self employment by way of an ABN.
Acceptable Loan Purpose
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Purchase or refinance of an owner occupied or investment property |
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Debt Consolidation |
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Go Between (Term Loans only)
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Equity loans for investment or personal purposes
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Loans for business purpose up to 20% of the loan amount (excluding working capital and the payment of personal or business tax liabilities)
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Construction (Term Loans only)
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Interest Rate Reviews
Following a satisfactory loan conduct for the first twelve months from the settlement date, you can also apply to convert your loan to a standard variable product.
You will however, be required to provide acceptable evidence of income that is within 10% of your original declaration of financial position. A rate conversion fee will apply.
Credit History
All borrowers, guarantors & associated companies must have exceptional credit history.
Additionally, refinance statements for all loans being refinanced must be clear of arrears and within limit arrangements.
Lo Doc Term loan is also available with Austral’s 100% Offset Account.
Product Features at a Glance
Minimum Loan Amount
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$50,000 |
Maximum Loan Amount
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$2,000,000 |
| Maximum LVR |
80% Subject to mortgage insurance, Maximum LVR 60% without mortgage insurance for metropolitan & major regional security property locations (Mortgage Insurance premium for loans over 60% LVR is payable by the borrowers)
(Plus capitalised LMI)
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| Loan Terms up to |
30 years
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| Interest Only up to |
10 years
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Split Loans Available
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No ongoing Fees & Charges (For Lo Doc Term Loans)
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Online & Telephone Account Management System
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Direct Debit
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Direct Salary Crediting
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| Monthly Loan Statements |
For Line of Credit or if in combination with Offset Accounts
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Unrestricted Additional Repayments
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2nd Mortgage over supporting property may be considered
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Loan is portable to another security property
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ATM access through all banks ATM’s (Line of Credit accounts or Offset Account only)
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