Review your loan and reap the rewards
Grant was contacted by our client directly, as they had known each other for many years. Our clients wanted their home loan and investment facilities reviewed. They already owned 7 properties in NSW and Queensland, and had recently acquired another property. They also sought assistance with the purchase of the new property.
They were not happy with their current bank on a number of levels. The interest rate was relatively good, but they thought it could be improved considering the amount of debt they had. The banking functionality of their accounts was not up to current standards and they did not like the online platform which their bank provided.
Understanding their situation, requirements and the amount of debt involved, we sought pricing from a number of different lenders, mainly looking at the major banks as they offered the highest level of internet banking with top functionality. We were able to obtain a good discount from a major bank which represented significant savings to the client.
There were, however, some hurdles which needed to be overcome. The banks had recently tightened up on their servicing requirements. The clients wanted to maximise their debt, but the lender wanted to pull back on their current level of exposure. Our good relationship with the bank together with our experience and understanding of the situation, enabled us to negotiate the best possible rate, which offered the greatest amount of saving and ease to the client while still meeting the banks more stringent requirements.