Today, more people are self-employed or employed on contract, so their income patterns are not as regular as PAYG earners.

With a Lo Doc Loan you can "self-certify" your income, which avoids the trouble of asking your accountant to provide up-to-date financials every time you wish to borrow money.

You pay a little bit more in interest and fees - but it saves you a lot of time and stress. Some lenders also offer Lo Doc Loans to investors and PAYG earners too.

Advantages
• There is no need to provide financials to the lender.
• You receive faster access to your loan and greater flexibility.
• Non-traditional and irregular income sources are considered.

Disadvantages
• You pay higher interest rates and fees.
• You may be at risk of over committing yourself if your income varies.