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Success Story: A Scott Partners lending review is helping this family to own their home faster.

4 October 2018

When you buy a home, you look around for the best option, and choose the best terms possible. They fit in your budget and they’ll work for you until you make the last payment. The same goes for vehicular and personal loans. Often, it only takes a few years for the terms of the loan to be outdated, with interest rate changes and changes to the state of the economy. A lending review can help you determine whether refinancing is a better option for you.

At Scott Partners, we’re dedicated to helping you achieve the best lending terms possible to secure your financial position. We’ll happily conduct a free lending review to help you save thousands of dollars on your mortgage and other loans. See how we helped one Melbourne family with a free review.

The Challenge

Catherine and Will Heaton* wanted to start an investment portfolio. However, the size of their home loan and other bills meant that they didn’t have enough money left each month. How could they start investing for the future when they didn’t have cash available?

The Solution

Catherine and Will visited Scott Partners for a free lending review. After comparing the interest rate on their loan to the current interest rates, we determined that the Heaton’s would benefit from refinancing their mortgage, which could include an investment loan to jump start their share portfolio.

After discussing the options with Catherine and Will, we put them in touch with Troy, a lending agent at Suncorp. Troy initially called the Heaton’s to discuss their goals and determine the best course of action. After research, he met with them at their home and discussed options, working with them to determine the best course of action. After some emails to transmit paperwork and work out the details, Troy brought the paperwork to the Heaton’s home, got the signatures, and made sure everything was in order. Within a short time, the new loan was approved and transferred from the old lender. Catherine and Will were on their way to financial freedom!

The Results

Catherine and Will secured a much better interest rate on their home through the loan restructure. They also borrowed an additional amount to invest in their portfolio. Even with the higher loan amount, their new payment is lower each fortnight, they feel that they can pay the loan more quickly, AND they’re investing in a new investment portfolio.

“This process was surprisingly straight forward and definitely worthwhile. Going through this review made us really focus on our financial goals, and Scott Partners and Troy have supported us every step of the way.”

Owning a home doesn’t mean that you can’t save money and invest in your future. In just a few minutes, the Heaton’s learned they could make room in their budget for more savings and their share portfolio. All it takes is a visit to your favourite accountant in Melbourne, Scott Partners, for a free lending review.

 

*The clients’ names have been changed in this article to protect their personal financial information.

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