St George sweetens low doc loan options

St George Bank has made low documentation home loans even easier to get, with the bank relaxing one limit on its current low doc loan product, and introducing a low doc option within its line of credit loan range.

St George has increased the maximum loan to valuation ratio on low doc loans to 80 per cent from 70 per cent when the application is made jointly by a self-employed borrower and a second applicant in a regular job. The bank also introduced the low doc loan option into its Portfolio loan. The Portfolio loan is a line of credit loan, with the borrower able to establish dedicated slices of the loan to their home, residential investment, a margin loan for shares, and other nominated purposes.