Launch Finance recently assisted a client in purchasing their property after being previously denied finance from a bank directly. The client was referred to Launch finance to help achieve his dream of purchasing his own property. The broker sat down with him to understand his goals and current financial statement of position.
After getting a better understanding of the client’s financial situation, the broker looked for areas that would help the client consolidate his finances. The broker suggested that the client consolidated some personal debt into one loan on home loan interest rates. This would reduce the interest rate significantly and the repayments would become manageable to secure the property.
The client didn’t think he would be able to pay off his personal debt as well as his home loan at the same time, however through consolidating his loans, he is now able to pay his personal loan off sooner, whilst also securing his new property.
The broker recommended a professional package to take advantage of the current low fixed rates for 2 years for part of his home loan, while the remaining amount of the loan and his personal debt are on a variable home loan with an offset account. This enables the client to put extra repayments towards the variable rate loan and through an offset account, is able to save interest on the balance of the offset account.
The client was thrilled with our service and we were able to save him thousands of dollars and put him on a path that will put him in a much better financial position then he would have been if he left his personal debt as it was.
If you or someone you know is looking for financial advice, please contact Launch Finance on (08) 9367 4222.