Refinance + Consolidation
Scenario
Mr Jennings is a full time Site Manager in a construction company. Mrs Jennings is a stay at home mum looking after their 2 children. The bills seem to be stacking on top of each other and repayments on credit cards don’t seem to budge.
They would like to use the equity in their home to consolidate high interest rate credit cards and personal loans into one manageable repayment. Refinance amount is $400,000 and cash out amount is $100,000.
Hurdle
Clients are rate conscious, seeking a full-time and have a very active credit file.
Solution
Mr Mrs Jennings were able to obtain the cash out that they needed with a low rate of 3.69%. We managed to save the Jennings over $200/month in interest repayments on their credit cards and personal loans from consolidating these debts and finding them a cheaper interest rate on their home loan.
