Why you should use a Mortgage Broker.
Maria has two investment Loans.
Stand Alone investment property facility with Aussie Home Loans.
Parental Guarantee Investment Loan with Macquarie.
Maria’s interest rates were too high and she wanted to be able to release her Parental Guarantee. This was really important to her, more important than the rate alone. Maria called her existing Lender - Aussie - and requested a reduction to her interest rate; however, they said no.
Maria was referred by her sister and brother-in-law, whom have been a part of the TM Family for at least 5 years - Thank you Nick & Nancy 😊
When we first spoke to Maria, we instantly knew we’d be able to assist her, she had quality properties, good tenants and we agreed her rates were too high.
And this is what happens when we lead busy lives: paying the mortgage becomes the norm and making extra repayments becomes a part of that process too. Except when your goal is to pay your Mortgage off as soon as possible, the interest rate you pay also has a massive impact on reducing your mortgage and the minimum repayments.
Roll forward a few weeks and Maria’s loan is Conditionally Approved with her new lender. So Maria called Aussie again to have her release of security processed - this is a retention strategy lenders delay to retain customers; and in reality every business should! They then offered her a lower rate to match her new lender. Frustrated, Maria called the office.
We quickly contacted our Business Development Manager (BDM) from her new Bank. She immediately responded with pricing to better Aussie’s offer!
Coincidentally, Maria’s Loan was formally approved the same day, and Loan Contracts are currently being prepared with the new and improved pricing.
Having a Broker to support you and a great BDM can make huge difference to people’s lives:
Maria just saved a huge 1.06 % on her Investment Home Loan Rate.
$4,611 saving pa in interest alone!!
Plus a further 0.81% on her second Investment Home Loan Rate.
$2,089 in additional savings
TOTAL $6,700
and the best news - she gets to release her Parental Guarantee!
Happy Days 🙌