Red Rock Mortgages Revises Low Doc Loans for Self Employed Persons

May 31, 2013 - PRLog -- It’s a well known fact that self employed people and others with not so clearly defined income streams have steady incomes and assets but they’re often unable to qualify for regular mortgage schemes. There are numerous finance mortgage companies offering low documentation loan products in Australia, but Red Rock Mortgages stands out from the crowd by offering products with least requirements. Since the company also offers other specialized loans, it has been able to use its expertise and resources to streamline many of its product lines including the low doc loan products.

Even for an LVR of 80%, all that a borrower needs to produce is a self certification and accountant’s letter. With just 2 documents, a self employed person can thus borrow money for purchase or refinance. It’s quick and does not take much time. On top of this, no mortgage insurance is required and the company even considers cash out in some cases. Instead of receiving half a dozen rejections from traditional banking organizations and other non-specialized lenders, self employed persons can get loans easily as they can very well pay back on time but have little paperwork to back their financial strength.

In order to qualify for a newly revised low doc loans product called ‘Low Doc Easy’ with maximum LVR to the tune of 85 percent, an applicant needs self certification with either 6 months business bank statement, accountants letter or 6 months BAS. Apparently, the company management and finance experts are determined to make sure no self employed person looking for low doc home loans for property transfers or purchases in Australia or refinances with the benefit of unlimited equity release are left out. It is evident from their product basket too.

Besides a number of other mortgage finance schemes, Red Rock Mortgages has been offering low doc loans for a long time now. With self-certification or self-declaration of income backed by an accountant’s letter or bank statement, it is now possible for any self employed individual to easily get a Red Rock Mortgage’s low doc loan approved within no time and the company even offers one to one guidance to aspiring borrowers. The complete loan approval procedure, compared to scores of other complicated loan schemes is not just easy but competitive too.

The official representative of the company disclosed that recently revised low doc loans will prove extremely useful to self employed people who want financing in the $250,000 - $2.5million range. ‘Our low doc loans are not for self employed persons only. Yes, they are ones who normally apply for such products. But, trust applicants and other businesses too can make the most of these products. Red Rock Mortgages approves many low documentation loans to such applicants too! Visit our website for more information.

About Red Rock Mortgages

A mortgage finance company based in Melbourne, Red Rock Mortgages has operations spread all over Australia. Thousands of happy customers and dozens of highly competitive loan products along with mortgage finance experts having more than 15 years of experience in the industry make Red Rock Mortgages what it is today – a leader in the Australian mortgage finance industry that everyone can trust and bank upon.

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