These were self-funded retirees aged in their early 70’s. They were looking to buy their own PPR on the Sunshine Coast, after selling their previous one, relocating from Brisbane, and renting for a period of time. Approached their own bank, who could not assist, and another mortgage broker who provided the same result as their bank. They were referred to us by an existing client who they had met at a seminar for self-funded retirees. Once we matched them up with the ideal broker from our trusted network, things finally started moving forward.
They had a great deposit, approximately 50% of the purchase price, a solid regular pension from their own SMSF, and a suitable loan was approved in approximately 2 weeks. They received a great interest rate considering the circumstances, and over a 25-year loan term, which helped reduce the repayments to a manageable level on their senior debt.
They were delighted with the service they received from the broker we matched them up with, and now have loan repayments that are less than what they had been paying in rent.