Vanessa and her partner Brett wanted to buy a new home and approached several big banks for a loan. Not only did they have no luck in getting a loan approved, but they were turned off dealing with big banks forever.
“They were more interested in getting me to move all the merchant services from my business so as to bank with them. It was all about the hard sell and about what they could get out of us. We barely even discussed the loan; once they realised we didn’t have enough for the deposit and we both worked for ourselves, including having been overseas for a period, I think it was all just too hard,” says Vanessa. “They certainly didn’t try to find a way, they just said ‘no’.”
Vanessa’s mum had recommended Michele Rechichi very highly so the pair gave her a call.
“It was all so easy once we spoke to Michele,” Vanessa says. “She was so helpful, and explained what we needed to do clearly and simply in a terminology we could understand. I was originally going to take out the loan on my own, but when I didn’t have enough for the deposit, Michelle recommended Brett use some of the equity from his investment property to make up the difference and minimise Lenders Mortgage Insurance (LMI). She found a lender who was willing to accept our self-employment status and my international paper work, and off we went.”
Michele made things even smoother for Vanessa and Brett by working directly with their Settlement Agent. “She was happy to do things the way we wanted to, updating us along the way on where things were at. The service was really just brilliant; I wouldn’t ever go to another big bank again. There was no hard sell from her either. She simply wanted to find a suitable loan for us, with the lender that was willing to give us the best deal given our particular situation.”
The couple also wanted a loan where they could make extra repayments whenever possible as well as being able to make weekly repayments (as opposed to fortnightly).
“None of this was a problem – Michele negotiated it all for us, and we are very happy! We will probably buy and sell within the next five years and will certainly be using Michelle again.”