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Low-Doc Refinance — Switch Lenders, Keep Your Rate

Self-employed and want to refinance? No problem. You don't need 2 years of BAS. Low-doc refinance is fast, simple, and built for people like you.

By the Mortgagefy Team · Last reviewed 28 July 2026
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Why Self-Employed Refinance

  • Rates have dropped. If you locked in at 6.5%+ two years ago, you might now get 6.0%–6.2%. That's $150–250/month in savings on a $600k loan.
  • Access equity. Your property appreciated 15–20% since purchase. That equity can fund a renovation, investment property, or debt consolidation.
  • Better features. Offset accounts, redraw, portability. Some specialist lenders still charge fees. Low-doc refinance often has better features than your original loan.
  • Simpler than original application. You already have an established home loan. A refinance is faster because lenders already know you pay on time.

Low-Doc Refinance in 4 Steps

1

Tell Us What You Want

Rate reduction? Cashback? Equity access? Debt consolidation? We match the right lender.

2

Provide Basic Docs

Recent payslips or accountant letter, tax return, ID. No full loan application.

3

Get Approval

3–7 business days for low-doc lenders. A big lender may take 10–14 days.

4

Settlement

Usually 2–4 weeks after approval. Discharge old loan, settle new loan, funds hit account.

Model your refinance savings: Use our free refinance calculator to see monthly repayment difference at a lower rate, or how much you could borrow if refinancing to pull out equity.

Get Your Low-Doc Refinance Quote

Answer a few quick questions about your current loan, income type, and refinance goal. We'll show you estimated savings and connect you with lenders.

Frequently Asked Questions

No. A refinance is simpler. You only need your latest accountant letter, tax return, and bank statements. No full financial application. Lenders already know you pay on time — they just need proof your income is still stable.
Low-doc refinance takes 3–7 days and requires minimal documentation. Standard refinance with a Big 4 bank takes 10–14 days and may ask for full financials even though you're just switching lenders. Low-doc is faster and simpler if you're self-employed.
Yes, if you average. Lenders look at your last 2 tax returns, calculate an average, and use that for serviceability. So if Year 1 was $80k and Year 2 was $100k, they typically use $90k.
Maybe. Fixed-rate loans often have break fees (usually $2k–$5k depending on how far you are into the term). Variable-rate loans usually have no exit fee. Check your loan contract or call your current lender. We factor this into the savings calculation.
Yes. If the break fee is high, you might choose not to refinance yet. But in many cases, the saving (e.g. 0.5% rate reduction) covers the break fee within 1–2 years, then you're ahead. We run the math for you.

Related Low-Doc & Refinance Guides

Ready to Refinance?

Self-employed and want to switch lenders, reduce your rate, or access equity? We compare a wide panel of low-doc lenders and get you approval in 3–7 days.

Speak to a Broker · 0432 634 648