Self Verified for Self employed less than 12 months/Variable or Fixed Rate Loan

This non-conforming bad credit loan (or low doc loan) is designed for people who are self-employed and have had an Australian Business Number (ABN) registered for less than 12 months, and who can self-certify their net income.

This loan requires applicants to provide their latest personal and business bank statements (for one month and issued within the last 90 days) and other documents as evidence, such as ABN registration.

This sort of Low doc loan is suitable for people with limited financials who:
- Need to borrow more money than traditional lenders allow.
- Have an impaired credit rating.
- Want to consolidate their debts.
- Have an unusual deposit, such as a gift.

With this loan you are able to:
- Borrow between $50,000 to $1 million, for a period of 10 to 30 years.
- Obtain up to 90% Loan to value Ratio (LVR) without paying lender’s Mortgage Insurance premiums.
- Choose between variable and fixed interest rates for three years.
- Make repayments either weekly, fortnightly or monthly, or through a direct debit system.
- Choose a line of credit facility, including phone or internet, ATM or EFTPOS, with access to monthly statements.
- Reduce your variable rate three years after the loan settlement date, providing your have not missed any repayments or have a loan arrears.
- Depending on the type of loan, you may be able to secure a 1-2% per annum discount on your interest rate for the first 12 months of the loan. (Please note: loans discharged within the first four years will attract deferred establishment fees)

Bad Credit Loans are able to put their clients with the right lenders, lenders who can provide useful advice and financial aid where possible, helping people get their finances back on track. A bad credit history should not stop you from considering investing in your future.

Contact us for more information or simply apply for a loan through Bad Credit Loans.