Here’s how I saved my client over $10,000 per year in mortgage repayments 💰
And here’s how that saving will shave 10 years off their mortgage ✅
The customer came to me with a 400 credit score… banking benchmark generally declines at <500. 😤
Undeterred by this, we sent them to our credit fix team who turned that around for $1,250 (no win, no fee) to over 770. 📈
Now we can pass approval for refinance. Fantastic…
We value the property through electronic valuation and obtain a 70% LVR. So 6.00% rates at a mainstream funder, taking them down from the current 7.89% they were paying. 😵
And while we’re there the funder offered $2,000 cashback covering the cost of the credit fix and refinance. Nice! 😊
So now we’re going to do 2 things…
1. The customer is going to put $100 a week into the offset / redraw facility saving a whopping 10 years off there mortgage with any lump savings. Happy days 👌
2. Use the remaining $90 a week they saved to pay down their car loan faster which should later save them around $450 a month on repayments easing the cost of living and/or enabling them to add to the offset / redraw account.
Sometimes a little patience and little strategy pays off…
Want to see how much you can save?
Book a 30 minute discover call - linktr.ee/rossthemortgagebroker
Comments