Latest News & Updates

Home Loan case study.

Here is an outline of a mortgage proposal we created for Jennifer (name changed).

Jennifer came to us after a divorce, looking to buy a home for herself and her two teenage children. After much searching, she found a 4-bedroom house perfect for her family's needs. Everyone had a bedroom each, and she could take in a boarder if necessary.

She had 350k in savings and needed another 300k with a flexible extension of 50k extra, which meant she was well under the 80% LVR.

This allowed us to secure her a better loan rate than what was on offer.

Additionally, a 1% cash-back gift paid the lawyers' fees, leaving a bit of leftover for Jennifer.

Since Jennifer had just turned 40 and was currently employed in an office-type position, we were able to get her a 25-year loan term with no issues.

As she was setting herself and her children up for the future, we recommended that she take the fixed term with a lower interest rate. This gave her a fixed amount she had to pay each week, and with the bank we chose, she was also able to increase her repayment figure by 5% of the loan value each week without penalty.

This will significantly shorten the term of her loan. Overall, this plan allowed Jennifer to buy a home that met her family's needs while also securing a favourable mortgage rate and repayment plan.