Client scenario

I see so many different clients and have the pleasure of getting to know them, their personal circumstances and what they want to achieve and better yet, its my job to do everything I can to help them achieve it. Here’s a recent client of mine that thought there was no way talking to me could help them achieve their goals but they thought they’d give it a shot anyway;

Rachael* had taken time off to look after her young family while her husband, Doug* continued to work. They live the lifestyle they were used to before having children, however now there were more mouths to feed and only one income, so they slowly started to fall behind further and further.

When I spoke to Rachael on the phone she mentioned she was sure there was no way I could help her to achieve her goals she also told me Rachael and Doug had a Part 9 agreement each.

This, in short is the step before bankruptcy and is not to be taken lightly.

So I met with Rachael and Doug, and while discussing their plans they disclosed to me their two main plans are;

  1. Get on top of their Part 9 Agreements as soon as possible so they can start to build their credit rating back up
  2. Start to repay more of the home loan so they can look at purchasing an investment property as soon as possible

The benefit to being a Mortgage Broker is I have access to over 30 banks and lenders. That means I have access to multiple policies. Had Rachael and her husband gone to their Bank to ask what they could do to help the answer would have been nothing, but luckily for them they were asking me and I knew not only could I help but I know the exact lender who would give us the best deal and get them back on track.

Rachael and Doug’s new home loan has been formally approved. The new loan will repay the current home loan and both Part 9 agreements which means their first goal is taken care of. The best part is the interest rate is only 1% higher than their current loan, and if they continue to repay the repayments they are used to (both the home loan and what they were paying to the two part 9 repayments) they will be making additional repayments.

This isn’t the long term plan for Rachael and Doug, they wont be with this lender for long at all, in fact in about 12 months time. This gives them enough time to make consistent repayments on time, every time and build equity. At this point we can look at the banks and lenders who will offer them the best deal on their home loan and future investment loan.

As you can see everyone has different circumstances and different things they want to achieve. It can really benefit to talk to an expert about your options, you never know if you don’t ask!

Have you got a particular circumstance you would like to know if I can help? contact me today for an obligation free chat.