Self-Employed and Low Documentation Loans
We recognise that self-employed individuals often face unique challenges when securing a loan.
Traditional lending processes can be more complex due to income fluctuations and the lack of standard documentation, such as regular payslips. To address this, we offer flexible loan solutions for those with non-traditional income streams, including business owners, contractors, and freelancers, who may not meet the documentation requirements of standard applications.
Our experienced finance team works closely with you to identify the most suitable loan options, ensuring you receive tailored support and favourable rates without unnecessary complexity. Whether you’re looking to expand your business, purchase property, or refinance, we make the process seamless and accessible.
How Vivid Can Help
Self-Employed Loans
Specifically designed for business owners, freelancers, and contractors with non-traditional income streams, offering flexible terms and criteria to suit your needs.
Low Documentation Loans
Ideal for individuals who lack full financial records but can prove financial stability through alternative documentation.
REFINANCing
Unlock better loan terms or consolidate debt by refinancing, providing access to more advantageous rates.
Get in touch
We offer an obligation-free consultation and review of your current loans to help you navigate your financing options. Enquire now and start your journey with Vivid Financial.
Flexible loan options
We offer flexible loan options tailored for individuals with non-traditional income streams, simplifying the borrowing process.
ALTERNATIVE VERIFICATION OPTIONS
We collaborate with lenders who accept alternative income verification methods, including bank statements to demonstrate cash flow, Business Activity Statements to verify income, and accountant declarations confirming financial stability.
STREAMLINED APPLICATION & NEGOTIATION
Our experienced brokers manage the entire application process—from preparing documentation to negotiating with lenders—ensuring a streamlined experience that helps secure the best possible terms.
SPECIALISED LOAN PRODUCTS
Tailored loan solutions with flexible terms and adaptive lending criteria designed to support self-employed individuals.
LOW DOC LOANS
Designed for borrowers who may not have full financial records but can demonstrate financial stability through other means.
frequently asked questions
What documents do I need to apply for a self-employed loan?
Since self-employed borrowers may not have traditional payslips or tax returns readily available, lenders offer alternative verification methods to assess financial stability. Commonly accepted documents include:
- Bank Statements – Typically covering the last 3–6 months to demonstrate consistent cash flow and income patterns.
- BAS (Business Activity Statements) – Used to verify business revenue over recent quarters.
- Accountant’s Declaration – A formal statement from your accountant confirming your income and overall financial position.
- Profit & Loss Statements – In some cases, lenders may request a self-prepared or accountant-certified profit and loss statement to assess business performance.
- Tax Returns (if available) – While not always required, providing recent tax returns can strengthen your application.
Each lender has different requirements, which is why Vivid’s client finance broker will help ensure you provide the right documentation for a smoother approval process.
Can I still get a good interest rate with a low doc loan?
Yes, low doc loans can still offer favourable interest rates, depending on your financial profile and the lender’s criteria. Lenders assess factors such as cash flow, income consistency, and financial stability through alternative verification methods like bank statements, Business Activity Statements, and accountant declarations. A strong credit history, a reasonable deposit, and well-managed business finances can further improve your chances of securing better loan terms. Working with Vivid Financial will ensure you have access to a range of lenders and the most suitable loan options for your situation.
How much deposit do I need for a low doc loan?
The deposit requirement for a low doc loan typically starts at 20% of the property’s value, as lenders perceive these loans as higher risk due to the alternative income verification process. However, some lenders may offer lower deposit options if you can provide additional security, such as equity in another property, or demonstrate strong financial stability through consistent cash flow and a solid credit history. In some cases, lender’s mortgage insurance (LMI) may be required for deposits below 20%. Our team at Vivid will help you explore different lender options and determine the right deposit structure based on your financial position.
Are there any additional costs or risks associated with low doc loans?
While low doc loans offer greater flexibility, there are some potential additional costs and risks that borrowers should be aware of. In many cases, lenders may apply higher interest rates compared to traditional loans, as they perceive low doc loans as a higher risk due to the alternative income verification process.
Additionally, if your deposit is below 20%, you may be required to pay Lenders Mortgage Insurance (LMI), which protects the lender in case of default. Other costs can include establishment fees, ongoing maintenance fees, and administrative charges, depending on the lender. By working with our Vivid Financial brokers, we can help mitigate these risks. Our team will assess your overall financial position and structure the loan to minimise costs while optimising financial benefits. This ensures you secure the most advantageous terms available, reducing any potential long-term risks.
