If you’re self employed and you can provide your full financials, then you’re entitled to borrow under the same conditions as someone who is a PAYE employee. Of course, you’re also eligible for all the same deals. This is called a Full Doc Loan, and requires full financial documentation.
However, when you’re self employed, providing all the financials can sometimes be difficult to arrange, especially if you haven’t been to the accountant recently. If this is the case, you can consider a Lo Doc or No Doc Loan.
Lo Doc
Lo Doc Loans are designed for self employed applicants, as well as wage and salary earners who may not have traditional forms of proof of income or are in a highly commissioned industry.
Some people applying for a home loan do not qualify under the ‘typical’ proof of income guidelines required by many lenders. Lo Doc Loans don’t rely on ‘typical’ qualifying guidelines and can accept a signed declaration of income instead of tax returns and financial statements. They can also be used for investment, owner occupied and refinancing purposes.
In most cases, you need 20% equity for a Lo Doc Loan. However, in some instances, you can borrow up to 90%. Competitive rates still apply, and your Mortgage Planner can find deals as good and sometimes better than Full Doc Loans. No Doc
A No Doc Loan means what it says – there is no financial information required! This is generally called an asset lend and it can be used by investors and owner occupiers.
In most cases, you need 30% equity for a No Doc Loan. Again, competitive rates apply and your Mortgage Planner can find deals as good as and sometimes better than Full Doc Loans. 
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Self Employed 
