Major wraps up low doc loans

A major bank has discontinued a low doc loan product, citing the loan's unpopularity as the reason.  

"Given the current take up of NAB’s Low Doc Home Loan, the removal of it should have limited impact for you and your customers."

Applications for NAB Low Doc loans received prior to 24 January 2014 will continue to be processed, but all applications received on or after this date will not be accepted.

Homeside's Low Doc loan is unaffected by the change.

"Your self employed customers can continue to benefit from the range of NAB and Homeside home loans," said NAB.