Collins Securities Low Doc Variable

If you are self employed and are not fussy about the additional features you get with an offset or line of credit home loan and you are experiencing difficulty in producing the usual documentation as supporting evidence, to back up your application, you may benefit by looking at a Collins Securities Low Doc Variable home loan.

A Collins Securities low doc variable interest rate mortgage is a flexible, long term home loan, that is repaid via principal and a very low interest rate. It is a home loan which invites you to make additional payments whenever you find you are able to do so and redraw these excess funds if you find, in the future, that they are needed elsewhere.

Collins Securities Low Doc Variable mortgage details

As it is a low doc, or low documentation home loan, you will be required to have had your Australian Business Number (ABN) registered for a minimum of two years before making application. Lenders Mortgage Insurance (LMI) Capitalization is available and standard residential first mortgage security is accepted. The maximum loan term on a Collins Securities low doc variable mortgage is 30 years with the minimum amount loaned set at just $10,000.

On the other end the maximum amount of financing made available to fund your home is $1,000,000. The maximum loan to valuation ratio (LVR) is 80% and you are able to negotiate interest only repayments for up to 10 years if you wish. For these reasons a Collins Securities low doc variable home loan is a great mortgage for businesspeople, the self employed and individuals as well as companies and trusts. It can be used to help you purchase your home, become involved in property investment, used as a construction loan or for refinancing purposes.

Collins Securities Low Doc Variable features:

• There is online account management for your convenience 24 hours a day seven days a week.
• If you wish you can choose to have it linked to an offset savings account.
• There are redraw facilities that allow to withdraw excess funds that you may have deposited into the account.
• You will get a debit card issued with the loan that will allow you to access your excess money through ATM’s or EFTPOS.
• You will be able to pay your bills by Bpay direct from your account.
• You can arrange repayments by either paying off the principal and interest of if you prefer interest only.
• You will be allowed to make additional payments anytime you wish.
• Your regular loan repayments can be arranged to be made weekly, fortnightly or monthly.

Collins Securities Low Doc Variable home loan fees and charges:

• There will be $0 annual fees to pay.
• No fee is charged if you redraw online.
• There is however a once only application fee of $600.
• A settlement fee of $275 and a
• Processing fee of $150 to pay.

How to make application for a Collins Securities Low Doc Variable home loan

The easiest way to apply for a Collins Securities low doc variable mortgage is to apply online from the Collins Security web site. The application form you will find there has been especially designed for home buyers applying in this manner. You will find it easy to navigate as well as being able to save it to your desktop, or if you prefer, linked into at your convenience on the web site. You will need the latest version of Adobe Acrobat to access the application form successfully. Once your application is received you will be contacted by a Collins Securities relationship manager. This highly trained professional will discuss your needs and financial situation with you in order to evaluate what additional items you may require.

Low doc home loans are specifically designed to assist home buyers who cannot qualify for a more traditional home loan for the purposes of buying property. Such loans will require the application to be made based on self verification, such as the two years of being registered having an ABN. They are designed to assist home buyers who have some existing equity or a deposit saved but have a certain difficulty in providing evidence of a regular income.

This could include people such as the self employed and casual workers who can earn a reasonable amount of money at irregular intervals. It has been known that some people who apply for low doc home loans have income they are hiding from the Taxation Department. This practice is highly illegal, as failure to declare income is an offence and if caught, any savings you think you might be achieving, could all be swallowed up in heavy fines.

A Collins Securities Low Doc Variable home loan could be just the financial instrument you have been looking for if you have been experiencing difficulty in obtaining a more traditional home loan because of lack of evidence to support your regular income earning ability.