- Anonymous1 decade agoFavorite Answer
Yes you can obtain a low doc without having an Australian Business Number (ABN). Speak to a good mortgage broker and they will have several lenders that can help you. Refer to http://www.homeloanexperts.com.au/low_doc/noabnlow... .
Note that often lenders that do not need an ABN will have slightly higher Lenders Mortgage Insurance Premiums (LMI). If you are borrowing under 60% LVR (60% of the property value) then this will not matter because you will not pay LMI anyway. If you are borrowing between 60% and 80% of the property value and not borrowing over $500,000 then the difference will be neglibile. If you borrow more than $500,000 and 60% of the property value then the LMI premium will be significantly higher!
You may be able to save on the LMI by going with a lender that can accept an accountants letter saying you have been self employed for two years instead.
Almost all lenders will require that you have been self employed for 2 years (ABN or not) unless you are borrowing less than 60% in which case being self employed for one day is enough.