Irene refinanced to buy her dream property.
With property already financed through a bank Irene didn’t foresee a problem when she approached them to buy a new property. ‘I was a gold customer, supposed to get better service, but they were quite difficult about it,’ she said. When Irene did get an answer out of the bank, it was an unexpected one – the bank wanted her to sell before purchasing.
A friend referred Irene to Smartline Adviser Samantha Cranny who saw the opportunity for Irene to keep her existing property by refinancing. ‘After analysing Irene’s circumstances against all the lenders criteria, it turned out the best bank for Irene’s scenario was Homeside Lending – the no frills arm of NAB,’ says Samantha.
‘As Irene’s Loan to Value Ratio was good and in keeping with bank policy we also drew additional funds for further renovations or an emergency.'
Samantha also made sure Irene had a way to reduce her debt in the event of an emergency by ensuring the flexibility to sell without penalty was there if required down the track.
‘Samantha was able to put it all together in a way that works for me and that took off the heat of having to sell under pressure,' says Irene. 'I’ve got a better interest rate, better flexibility, facilities and best of all less stress!’.
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buying my first home
