Home Loan Case Study: Same Loan, Same Bank – $8000 Reduction in Yearly Interest (without changing banks)
You don’t always have to refinance your home loan to a new bank to get a better deal.
The Home Loan Team review each loan, for all clients every 6 months.
It’s part of the process.
The client in question originally purchased their property for $650,000 at a 95% loan-to-value ratio (LVR).
Their interest rate reflected the high LVR.
But working for the client well after the loan had settled, the home loan team maintained contact and a relationship with the selling agent on the property.
After time the agent advised the property would have increased in value.
The home loan team ordered a new valuation which came back at $767,949 – this was equivalent to a new LVR of 78.7%.
With a new LVR under 80% the home loan team requested the bank reconsider the rate and a reduction was approved that saved the homeowner $8000 in interest a year.
A great outcome without even needing to change banks.
Sorted with good relationships and good processes.
Good Relationships Lead to Long-Term Savings.
Maintaining good relationships is crucial when it comes to financing, that's why we highly value it. We know your needs evolve just as the market does. Whether through negotiations or refinancing, we work towards finding you the best solutions that can lead to significant savings.
