No doc loans (also called no income loans) let you borrow against property without providing tax returns, payslips, BAS or financials. They suit self-employed Australians, business owners and property investors whose income is hard to prove on paper, or whose deal can’t wait for a bank.
Formation Finance arranges no doc loans from $100,000 to $5 million+, up to 75% LVR, with rates from 8.95% p.a. You’ll receive an indicative assessment within 24 hours, and settlement typically takes 3–10 business days.
What you can expect:
No doc loans are for business and investment purposes only.
| Feature | Indicative range |
|---|---|
| Loan amount | $100k – $5M+ (case by case) |
| Term | 3 – 24 months |
| Maximum LVR | Up to 75% (residential, commercial or vacant land) |
| Interest rate | From 8.95% p.a. (subject to security and exit strategy) |
| Income verification | Not required for property-backed loans (no tax returns, payslips, BAS or financials) |
| Credit history | Imperfect credit considered (case by case) |
| Repayments | Interest can be capitalised or prepaid, so no monthly repayments in most cases |
| Fees | Establishment, valuation and legal fees apply |
| Loan purpose | Business or investment purposes only |
| Timeframe | Indicative assessment within 24 hours · Settlement typically 3–10 business days after valuation and documents are received |
All figures are indicative only and not an offer of finance. Availability, terms and timing are subject to valuation, security, lender approval, legal and settlement requirements, and receipt of required documentation. For business and investment purposes only.
No doc loans (no documentation loans) are designed for borrowers who cannot provide traditional income documentation, such as tax returns or payslips. These loans are commonly used by self-employed individuals, freelancers, or investors with complex income structures.
With no doc loans, approvals are often based on:
These loans offer a simplified and faster alternative for those who don’t fit the traditional lending criteria. Because no doc loans are for business or investment purposes, they sit outside the National Consumer Credit Protection (NCCP) Act. That’s why lenders can approve them without the income and serviceability checks a home loan requires.
The Australian non-bank lending market broadly splits into three documentation tiers. Where you sit determines which product is most cost-effective.
| Full Doc | Low Doc | No Doc | |
|---|---|---|---|
| Income evidence required | Tax returns + payslips + BAS + financials | Income declaration + supporting docs (BAS, bank statements, accountant letter) | None |
| Who it suits | PAYG employees, established businesses with current financials | Self-employed with ABN >2 years and current bank statements / BAS | Asset-rich borrowers; complex or undocumented income; urgent timing |
| Approval based on | Full serviceability + credit + security | Stated income + supporting docs + security | Equity, security, and exit strategy only |
| Typical LVR | Up to 80–95% | Up to 80% | Up to 75% |
| Interest rate | Lowest (bank rates) | Moderate premium over full doc | Premium over low doc — from 8.95% p.a. |
| Approval speed | 4–8 weeks | 2–4 weeks | 24–72 hours indicative |
| Best when | Documentation is current and complete | Self-employed with verifiable trading history | Documentation gaps, urgent funding, equity release without income proof |
How to choose: if you have current tax returns and BAS, full doc or low doc will usually be cheaper. If your income documentation is incomplete, out of date, or the deal needs to move in days rather than weeks, no doc is built exactly for that scenario.
For borrowers who own property and need fast access to funds without income paperwork.
For business owners and sole traders who need working capital without offering property as security.
Rates and loan sizes differ from property-backed no doc loans.
No doc loans cost more than bank or low doc loans, so they work best for short periods with a clear exit. Consider:
No doc loans are designed for scenarios where traditional bank lending isn’t a fit, either because documentation is incomplete, the deal is time-sensitive, or the borrower’s structure falls outside standard bank policy. Common borrower profiles include:
1. Initial assessment (within 24 hours)
Share the property details (or business details for cashflow loans), loan amount, purpose and exit strategy. You’ll receive indicative terms at no upfront cost.
2. Letter of offer (1–3 business days)
We order a valuation for property-backed loans and confirm the terms. You sign the letter of offer.
3. Settlement (3–10 business days)
Loan documents are finalised through your solicitor and funds are released at settlement.
For urgent deals with clean security and a clear exit, settlement can happen in as little as 3 business days.
Reviewed by Jackie Wang, Partner at Formation Finance
Jackie Wang has over 10 years of experience in finance and lending, helping self-employed borrowers, business owners and investors secure funding when bank documentation requirements don’t fit. He holds a Master of Professional Accounting from RMIT University, so he knows how to assess complex income structures, trusts and out-of-date financials, which are exactly the scenarios where no doc lending is used.
Jackie has reviewed this page to ensure the rates, LVRs, documentation requirements and NCCP information reflect current lending conditions.
Last reviewed: 15/10/2026
Often, yes. Lenders focus on the security property, available equity and a clear exit strategy, so past defaults or irregular income don’t automatically rule you out. Approval isn’t guaranteed, though: recent bankruptcy, a high LVR or a weak exit plan can still lead to a decline.
You’ll usually receive an indicative assessment within 24 hours. Settlement typically takes 3–10 business days once the valuation and documents are received. For urgent deals with clean security and a clear exit, settlement can happen in as little as 3 business days.
A low doc loan still requires limited income evidence — typically an income declaration plus supporting documents like BAS, bank statements or an accountant’s letter. A no doc loan requires no income documentation at all: the application is assessed purely on the security property, available equity, and exit strategy. Low doc is generally cheaper; no doc is faster and accepts a wider range of borrower scenarios.
Any business or investment purpose, including working capital, urgent supplier or tax payments, deposits for investment property, renovations or development costs on investment property, refinancing existing facilities, bridging finance and short-term cash flow gaps. No doc loans can’t be used for personal or household purposes, such as buying or renovating the home you live in.
No. Our no doc loans are for business and investment purposes only and fall outside the National Consumer Credit Protection (NCCP) Act, which regulates consumer credit. This is what allows lenders to provide funding without the serviceability assessment required for regulated consumer loans. Borrowers must declare the loan purpose as business or investment at application.
You repay the loan in full through your exit strategy, usually by selling a property, refinancing to a bank or low doc lender once your financials are up to date, or from another settlement. If your exit is delayed, talk to us before the term ends about an extension.
