What is a Low Doc Loan?

A Low Doc Loan (low documentation loan) is designed for self-employed individuals or small business owners who may not have traditional income proof like tax returns. Instead, you can provide alternative documents such as bank statements, profit & loss summaries, or a letter from your accountant.

Who is it for?
✅ Self-employed or sole traders with irregular income

✅ Small business owners, especially if the business is new

✅ Borrowers with assets for a larger deposit or collateral

✅ Those who can provide alternative income proof

Keep in mind, low doc loans are considered higher risk, so they may come with higher interest rates, larger deposits, or stricter terms. They're also not as widely available.

Looking for a competitive low doc loan? XCEL’s finance experts can help you find the right solution.

Going for an auction? Here are top 5 things you must do before you bid

🧐 Do Your Research
Research the location, recent sales in the area, property condition, and potential value. The better your research, the smarter your bidding limit.

💳 Get Pre-Approved
Auctions move quickly — there’s no time to “sort financing later.” Make sure you’re pre-approved for a loan or have funds ready to go. Winning a bid means you’re legally locked in to buy, so don’t risk it without the backing.

📘 Understand the Process
Brush up on auction rules, bidding procedures, and your legal obligations. Knowing the terms ahead of time helps you avoid last-minute surprises or costly missteps.

🏃 Be Ready to Act Fast
There’s no cooling-off period at auction. Bring your ID, have your deposit ready, and know your strategy. Understand the auction terms — including deposit amounts, settlement periods, and any special conditions.

⚠️ Know the Risks
Properties sold at auction are sold “as is.” Hidden issues or defects may not be obvious.

Strategies to kickstart a financial reset

💳 Spend Smarter -
Cancel unused subs: If you haven’t watched it in months, ditch it.
Budget-friendly hangs: Swap dinners out for a picnic, BBQ, or beach day. Plan your meals: Shop once a week, save heaps.
Tackle holiday debt: Set a payoff plan — future you will thank you.

💰 Boost Your Savings
No-spend challenge: Try a week without spending and stash the savings.
Compare and save: Shop around when renewing energy or insurance plans.
Automate it: Set small, recurring savings transfers — it adds up.
Round-up saving: Use spare change tools to grow your balance with every tap.

📈 Invest in Your Future
Learn the basics: Start with a beginner’s guide to investing.
Explore ETFs: A simple entry point for new investors.
Simplify super: Combine accounts to save on fees.
Review your super: Keep an eye on your balance and options — it’s your future income.

✅ Small Steps, Big Wins
You don’t need a financial overhaul. Just a few smart moves can help you reset and thrive in 2025.

Investing: Where Do I Start? A Simple Guide to Get You Going

📚 Start with the Basics
Understand what investing is: It's about growing your money over time by putting it into things like shares, property, or managed funds.
Know the risk: All investing carries some risk, but understanding your comfort level is key to choosing the right strategy.
Set your goals: Are you investing for a house deposit, retirement, or long-term wealth? Your goals will shape your approach.

🪙 Think Long-Term
Don’t chase quick wins: Real investing is about consistency, patience, and time.
Stick to a strategy: Once you’ve started, avoid panic selling when markets dip.
Review & adjust: Check in regularly to make sure your investments still align with your goals.

Annual Financial Checklist

✅ Set Clear Goals
Don’t just “save more” — be specific. Try: Save $900 in 3 months = $300/month. Clear goals keep you motivated.

📈 Review Your Retirement Plan
Check your super balance, contributions, and retirement target. Consider consolidating accounts or boosting contributions.

💼 Rebalance Your Investments
Markets shift, and so should your portfolio. Make sure your investments still match your goals and risk profile.

💰 Grow Your Emergency Fund
Start small and build gradually. Aim to cover 1–3 months of expenses for peace of mind.

👥 Check Your Beneficiaries
Life changes — your financial documents should too. Update super, insurance, and wills if needed.

🛡️ Review Insurance Cover
Make sure your auto and life insurance still suit your needs. The right cover = financial security in uncertain times.

Small check-ins can lead to big results. Take a moment to review, reset, and realign your finances — your future self will thank you.