CBA says no to NRAS for LOC DOC customers
According to a document released on the 25-10-2013 CBA has locked out low doc customers from the NRAS scheme.
The document clearly states that the purchase of a property under the National Rental Affordability Scheme (NRAS) is an excluded purpose. Loc doc customers seeking to purchase under the NRAS scheme will need to look for other options while this ban is in place.
The ban locks a portion of self-employed borrowers out of the scheme.
For more information about other possible options contact your broker broker.