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Alt-Doc Loans: Self-employed lending solutions

21 July 2017,


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At RedZed we know the circumstances of the self-employed are as diverse as the Aussies running them. So we’re proud to offer a unique lending solution to ensure the business ambition of the nearly one in ten Aussies who are self-employed, isn’t stopped in its tracks by the boxes the banks need to tick.

The low down

In a nutshell, Alt-Doc loans are a flexible way for self-employed borrowers to use different forms of income verification to apply for loans. For Brokers on the other side of the equation, they’re a modern lending solution allowing them to tap into this growing segment of Aussies and gain an advantage in a rapidly- shifting marketplace.

Collaboration is key

Legislation adds a foundation of security and peace of mind to this process. The National Consumer Credit Protection Act (NCCP) means that there is a clear framework to ensure that a borrower’s needs are appropriately addressed, including the diversity of their needs and circumstances. While brokers and lenders follow a process of ‘reasonable enquiry’ to determine the suitability of lending for that borrower’s individual circumstance.

Liberating Ambition

As this market continues to grow, confidence is key for both parties.

At RedZed, clients are, through their trusted broker, included at every step so to fully understand our evaluations and contribute to our lending assessments. This ensures our offerings accurately reflect their circumstances and ensure that we do not lose crucial detail by applying blanket rules. We believe this personally tailored approach can foster strong relationships between brokers and the self-employed, allowing both parties to find solutions that are not suited to automated credit scoring decisions.

 

All examples or scenarios are illustrative only and do not amount to endorsements. The names used are fictitious. All loan applications and requests subsequent to settlement are subject to RedZed’s lending criteria and lending policy which may be amended from time to time without notice. Fees, charges and conditions apply.

Any content on this website is general only and does not take into account your particular circumstances and needs. Before acting on any content you should assess or seek advice as to whether it is appropriate for you.

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For Customers

When it comes to self-employed people in Australia, we know that one-size, or one style, does not fit all. We’re small enough to listen, and big enough to help. We’re RedZed.

 

For Brokers

Everyone at RedZed is committed to doing all that we can to enable you to deal direct with us in a simple, common sense manner. Everything that you will need to submit a loan application to us is contained within this section.