Why is now a good time to buy in the regions with a low doc loan?

Are you wanting to get away from the hustle and bustle of the big cities? If so, it might be time for you look at buying in the regions – especially with the strong growth that these areas are experiencing. Doing so with a low doc loan from Redrock will send you down the path to capital gains, if the current trend continues. It’s looking likely to, as well.

The New South Wales region of Illawarra recorded the strongest increase in house and unit values through the September quarter of 2016, according to a CoreLogic RP Data report from December. Houses increased in value by 14.3 per cent, and units saw a rise of 11.5 per cent.

With performance like that possible in the regions, it’s a great time to make the move yourself.

Why buy in the regions with a low doc loan?

Going through the traditional lending institutions such as banks and regular mortgage brokers can be daunting, particularly if you have bad credit or you know that you might be rejected. Rejection doesn’t just happen because of a bad credit score – you could also be turned away if your income is irregular, or you own a business and can’t provide all the documents these brokers want.

At Redrock, our low doc loan solutions mean people like you – those with an irregular income or a lack of required documentation – can still buy the homes they desire. With your savings, you’ll have access to a home loan that can get you into the regional home of your dreams.

Why is buying in the regions a great move at the moment?

Buying a home in the capital cities is an expensive endeavour. At the moment, the median dwelling value in Sydney is $1,046,046 – a value 13.06 per cent higher than 12 months ago. The cost of a home in the New South Wales capital doesn’t look like it’s going to get any cheaper over the next few months or years, so finding an alternative destination is a good idea.

Instead of waiting around for a potential market crash, move into the home of your dreams as soon as you have the required deposit. The team at Redrock is here to help with a low doc loan, so get in touch today.