Limited funds, smart purchases for Adelaide buyer.
With limited funds, Fiona never dreamed she would purchase two properties within six months – but that is just what happened with some help from Smartline.
When Fiona decided it was time to purchase a property her father agreed to act as a guarantor on the loan. All she needed was the right home loan.
So when a colleague recommended Fiona get in contact with Smartline Personal Advisor Miriam Agnos, she was excited to find that not only could she apply for a home loan but she could also consolidate it with her car loan to reduce her overall monthly repayments.
“Miriam also explained how an offset account would allow me to use my savings to reduce the interest I was charged on my home loan - as well as provide the flexibility to withdraw funds from the account to purchase an investment property down the track,” said Fiona.
“The offset account acts like a normal savings account but allows borrowers to offset their savings against what is owed on the mortgage. Savings in their offset account help to reduce the amount of interest charged on the overall mortgage,” said Miriam.
Using the money in her offset account, Fiona was able to purchase an additional investment property with her husband David.
“I can’t believe how much has been achieved in a relatively small amount of time. I’ve been able to purchase not one, but two properties with Miriam’s help,” said Fiona.
“Now I’m renovating both properties with a little help from Dad and looking forward to enjoying the lifestyle and financial returns on my investments.”
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buying my first home
