The Real Deal
A Recent Client Refinance
Every month I like to provide 1 or 2 examples of recent deals – bear in mind it isn’t always about the best interest rate – it’s often about which solution or structure is best for you and your plans.
See what I mean from the client testimonial from one of my recent clients.
If you’re a person that gets’s paid bonuses or commissions – i.e. you have lumpy payments – it may be better for you to be with a bank that allows large lump sum payments on top of your regular payments or it might be better to have a flexi facility to compliment your fixed facility. The point is – there’s a lot more to it than just the best interest rate……but we can get those too!
Recent Client Example:
$1.3M of lending and an LVR of approximately 78%
“Lumpy” income – large commission component on top of high base salary
The proposed solution involved a lender that allowed up to 5% per annum to be paid as a lump sum onto their fixed mortgage facility (on top of regular payments)
Rates secured of 4.09% for 1 year
Cash Contribution paid of $8,000 to the client
I get calls all the time from people asking me if I think they are getting a good deal. 9/10 times I will be able to review and either structure their lending in a way that will help them pay off their mortgage faster or save money by accessing a better rate.
Often, it’s smarter to break your fixed rate early and refix at a lower rate – often there is no cost to do this and even if there is, it can be worth paying the break fee to access the lower rate.
Call me on 021615097 to chat, email me or make an appointment – it’s easy and free.
