What our clients are saying

    "Marty was fantastic! We swore never to use a broker again after bad experiences with other brokers in the past, and our last loan we negotiated ourselves, however this time we needed a mortgage... " – Blake Millgate
    "It is impossible to exaggerate how highly I rate Mortgage Experts and my experience with Marty McDonald... " – Brendan Arlington
    "Mortgage Experts have provided a fantastic experience in an area that can be complicated and emotional. Marty was always clear and precise and always made time to discuss the matters at hand... " – Brett Parker
    "I was really impressed with Marty's services. He was responsive to emails and calls, considered a range of options, and kept me informed at every stage. He was also very patient... " – Elise Darsow
    "Marty was great to deal with. From initial contact to finding a perfect solution and strategy to our situation to then securing the funding in a tight time frame nothing was too much trouble... " – Nick and Blaise Porter
    "Great service! All the advice I've received in the past has been really helpful. Love the newsletters which keep me updated on developments in the market. Highly recommended! " – Nick Jolly
    "I have used Marty's mortgage brokerage service (Mortgage Experts). He has been professional, resourceful, gone beyond the call of duty in servicing my mortgage. He has been able to... " – Prithvi Moses
    "We’re both really happy to have been able to get this sale across the line and are particularly grateful for you finding us a way to make the finance work! Walking into our new home... " – Sarah Macdonald & Stewart Bovell
    "We found Marty McDonald from Mortgage Experts through a Google search because he had a hugely informative page about family trust loans. Choosing Marty as our broker was a huge blessing... " – Tracey Cools

Lo doc home loans & mortgage insurance

Lo doc home loans with no lenders mortgage insurance

Lo doc home loans with an LVR of over 60% require mortgage insurance if you want to access major bank loans. This can mean that you not only have to meet lenders guidelines, but also the policies of the mortgage insurers – and these can be much more rigid.

For example, the two major mortgage insurers will generally not allow the refinance of investment loans under their lo doc home loans policy. Both have limits on individual loan amounts and borrowers’ total exposure (even across different lenders and properties).

At Mortgage Experts, we are highly experienced with the various lending policies and with our knowledge we can sometimes work out ways around them! For example, did you know that two first tier lenders with whom we have relationships have delegated lending authorities with their chosen mortgage insurers? That means that as long as a loan fits into agreed parameters (the main parameter being a maximum loan amount) the lender can approve a loan without it having to conform to the insurer’s policy. So although the loan is still covered by mortgage insurance you don't have to have it fit the insurers policy which as stated above can be very onerous.

If you are considering a lo doc home loan it is best to talk with us first. Too many credit enquiries and any declined loan application will affect your chances of getting a lo doc home loan approved.

70% LVR no mortgage insurance!

The good news is one regional bank who is also a wholesale funder to the non bank sector has introduced a lo doc product where you can finance up to 70% LVR without mortgage insurance for both purchases and refinances (with some conditions).

Are there alternative lo doc lenders with different policies to the banks and non bank lenders for 80% lo doc loans?

Yes. There are a number of alternative lenders in the market of whom you may be unaware. These lenders can offer lo doc home loans up to 80% LVR with no mortgage insurance. If we can’t make your situation fit with a major bank, regional lender or non bank lender we can look at all the alternative options for you.

At Mortgage Experts we are a true broker and are not restricted to choosing from a limited lending panel. If we can find a lender that can do the loan for you and is willing to deal with a broker, we can make it happen.

You may be surprised that some of these lenders’ products are quite competitive. Call us to discuss.

Let’s talk about which Lo doc loan is right for you?

 

Our Current Lender Panel

Lex Luther Enterprises Pty Ltd (ABN 58114636949) trading as “Mortgage Experts” is an Authorised Credit Representative (444479) of Martin Warren Thomas McDonald, Australian Credit Licence (391230) under s64(1) of the National Consumer Protection Act 2009.