A stated income loan, also known as a no doc loan or liar loan, is a type of mortgage which can be obtained without the borrower providing proof of income. The borrower simply states their income and the borrower accepts their statement in good faith.
Because state income loans are typically mortgages, they are secured by collateral. This provides the lender with a security which can be seized if the borrower fails to meet loan repayments.
Stated income loans are not generally offered by Swiss lenders because lenders must perform due diligence and ensure that borrowers meet affordability requirements before they provide a personal loan or a mortgage.
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