What is a no Records (Zero Doc) Home loan?

A zero papers (zero doctor) financial are financing to find property that does not require income verification regarding debtor. This type of loan, today practically unlawful, is as an alternative approved towards a statement one confirms the newest borrower can also be pay the mortgage costs.

No doc mortgages was indeed commonly provided to those people whose income aren’t easily confirmed, so they is actually higher risk borrowers. Mostly unregulated, such money was established on the selling prospective of the protected possessions additionally the payment build of home loan. Continue reading →