Launch Finance recently assisted a client save thousands on their interest rate across two home loans through negotiating a better deal with their current lender and taking advantage of the current low interest rates.
The client hadn’t reviewed their home loan in over 5 years and now that their interest only loan was about to expire, they wanted to review their options to avoid paying principal and interest repayments for tax purposes.
Prior to dealing with Launch Finance, the client was wrongly advised by another broker that when investing in property, they had to take out two separate loans from two different banks. This of course is untrue.
Launch Finance conducted a full home loan health check to see where the client could restructure their home loan to suit their personal and financial situation. This included reviewing their current repayments history on both home loans, organising licensed valuers to inspect the property to give a total value of the property, reviewing the current available home loan rates with their current lenders and providing expert advice on how the client could structure their loans to ensure they receive the lowest rate possible.
Launch Finance advised the client to bring all the lending together with one lender, which meant their interest rate was determined on their total borrowings and total equity with one lender.
Launch Finance helped save the client $6500 in interest rate payments per year, compared to what they were currently paying and helped the client save an additional $5,406 in interest over 3 years compared to what the client was offered from their current lender at the time. Launch Finance used their strong network of lenders to negotiate the best deal possible for the client to save the client time and money.