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Prime Alt Doc Loans

Alt doc home loans for self-employed borrowers — no tax returns required. Multiple income verification options. Competitive rates, offset account, Jumbo option to $5m.

Overview

The Better Choice Prime Alt Doc range is built for self-employed borrowers who have strong businesses but don’t fit the traditional full documentation lending model. Whether your client is a sole trader, company director, or contractor, our alt doc solution provides a clear pathway to finance without the need for personal or business tax returns.

With three income verification options — 6 months BAS, 3 months business bank statements, or an accountant’s declaration — your client can demonstrate their financial position in the way that best reflects their circumstances. Add-backs are accepted, and offset accounts are available across the range.

A Jumbo Alt Doc option is also available for loan amounts up to $5 million (single security, Category 1 postcodes), with a nil application fee across the entire Prime Alt Doc range including Jumbo.

Features

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No tax returns required

Income verified using 6 months BAS (annualised), 3 months business bank statements, or an accountant's declaration. Your client chooses the option that works for them.
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ABN from 24 months

Minimum 24 months ABN registration required, in the applicant's name or an associated entity. Self-employed period also minimum 24 months.
Home

Up to 85% LVR

Lend up to 85% LVR for owner-occupied and investment loans. A 1% risk fee applies at the 85% LVR tier.
Wallet

Loan amounts to $5 million

Standard Prime Alt Doc up to $2.5m (single security). Jumbo Alt Doc available up to $5m for Category 1 postcodes at up to 70% LVR.
Interest Rate

Add-backs accepted

Non-cash business expenses including depreciation and interest can be added back to strengthen your client's assessed income position.
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No application fee

Nil application fee across the entire Prime Alt Doc range — including Jumbo. Settlement fee of $395 and documentation fee of $25 apply.

Have an Alt Doc scenario?

Our BDM team knows alt doc lending inside out. Submit your client's details and we'll come back to you promptly.
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Helpful information

Product and rates guide

Full product details, fees, and eligibility criteria.
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Fact Sheets

Everything your client needs to know about this product
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Serviceability calculator

Estimate your client's borrowing capacity.
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Frequently asked questions

What income documentation is required?

A completed Declaration of Financial Status, plus any one of: accountant’s verification (12+ months acting for the applicant), 6 months BAS statements (annualised), or 3 months business bank statements (main transactional account, issued within 30 days).

How long does the borrower need to have been self-employed?

A minimum of 24 months self-employment is required, with the ABN registered for at least 24 months. GST registration must be 12 months minimum where applicable.

What is the maximum LVR and loan amount?

Up to 85% LVR and $2.5m for standard Prime Alt Doc. The Jumbo product extends to $5.0m at a maximum 70% LVR for Category 1 postcode securities.

Can the loan include cash out?

Yes. Cash out is acceptable for business purposes to 80% LVR. A Statutory Declaration is required for amounts over $250,000. Repayment of tax debt is not an acceptable purpose.

Is there an offset account?

Yes. Offset accounts are available on Prime Alt Doc, accessible via internet banking only (no card access on offset sub-accounts).

What is the difference between Prime Alt Doc and Prime Alt Doc Jumbo?

Both use the same alt doc income verification. Jumbo is for loan amounts above $2.5m (up to $5.0m) on single security properties in Category 1 postcodes, with a maximum 70% LVR.

Is there a risk fee on this product?

A risk fee of 1.00% applies at LVRs above 80%. No risk fee applies below 80% LVR. Refer to the current Product & Rates Guide for the full schedule.

Things you should know

Any advice on this website does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. Before making any decision in relation to a Better Choice product, you should read the relevant disclosure document. All rates and fees quoted in our products are indicative only and can change dependent on your personal circumstances. Conditions and fees apply. Comparison rate is based on a loan of $150,000 principal over a 25 year term. WARNING: The Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees and cost savings such as fee waivers are not included in the comparison rate but may influence the cost of the loan. Better Choice Home Loans Pty Ltd & Better Choice Commercial (a division of Better Choice Home Loans Pty Ltd) 2000-2020 ABN 79 095 728 868 | Australian Credit Licence 378333