Carlos & Angela
Carlos and Angela are a self-employed couple with a young family. They were new to the home loan market and wanted to purchase land so they could build their first home. They had minimal success with securing a home loan from other mortgage brokers and Banks due to poor financial advice from a previous advisor which affected their credit rating. That meant they weren’t able to secure a home loan through normal lending options.
We approached the situation with a strategic finance focus which meant using a financial institution that would allow them to enter the property market but at higher interest rates. The strategy was to secure the finance which would allow Carlos and Angela to purchase / build their first home and after 12 months we would refinance to a normal lender.
Carlos, Angela and myself maintained regular contact during their home’s construction and started reviewing new (normal) home loan options towards the end of the build. We were able to secure a home loan with a normal lender that reduced their interest rates, achieved an equity release to build a new swimming pool and consolidate unsecured debts or what we refer to as ‘bad debt’.
Overall, we have saved Carlos and Angela thousands of dollars ever month, reduced their interest rates by 45% and with those savings, now we can review other ways to save money for their business with new commercial and vehicle loans.