Client Profile
The client, a dedicated Emergency Services worker, sought to refinance his existing home loan. As a single individual with no dependents, he was keen to optimise his financial situation and benefit from potential cash-back offers.
Challenges Faced
The client’s unique income structure, consisting of various allowances and overtime pay, posed a challenge in finding a lender that would consider 100% income utilisation for Emergency Workers. However, the team at AS Mortgage Partners was determined to assist him in leveraging his income fully and securing a better interest rate on his new loan.
Our Approach
The team immediately sought a suitable lender who would recognise the value of an Emergency Services worker’s income and offer competitive interest rates. After thorough research and analysis, the team identified a lender who met these criteria and proposed a tailored solution for our client.
The Refinancing Process
1. Income Utilisation
Unlike traditional lenders, the chosen lender recognised the significance of the client’s allowances and overtime pay. This allowed us to include 100% of his income in the servicing calculations, giving him financial flexibility.
2. Better Interest Rates
By refinancing with the selected lender, the client could secure a better interest rate than he had previously paid. This reduction in interest rate would translate to considerable savings over the life of his loan.
3. Refinance Cash Back Offer
The lender’s refinance cash-back offer was a bonus for our client. By taking advantage of this opportunity, he gained access to extra funds that could be used for various purposes, further enhancing his financial well-being.
Results and Benefits
Through the team’s diligent efforts and partnership with the chosen lender, the client experienced significant benefits:
1. Improved Financial Position
The refinancing process unlocked the true potential of the client’s income, providing him with better control over his finances.
2. Reduced Interest Burden
With the new and improved interest rate, the client was set to save substantially over the loan term, making his financial outlook brighter.
3. Refinance Cash Back Bonus
The additional cash-back offer allowed the client to address immediate financial needs or invest in future opportunities.
Conclusion
AS Mortgage Partners takes great pride in assisting clients achieve their financial aspirations. The team offers tailored financial solutions to help clients achieve their goals with ease, and the services provided are designed to meet the unique needs of each individual, empowering clients to make informed decisions.