Below are some recent examples from a single broker with Mortgage Australia, just showing the real ways we help our clients every day to save money.
1) Recently saw a client who wanted to consolidate their debt to their home loan. They were on an interest rate of 5.30% with Bankwest and no one had contacted them to give them a better rate as the loan size is $74k with an LVR of 17%. I showed them a low rate with another lender that also has no application fees or monthly or annual fees. I have said that I am going to use this lenders rate to see if Bankwest will match the rate and reduce them significantly before even trying to refinance them away.
2) Recently performed a valuation for a client’s property in Harvey and the cost to me of $49 to see how much their house is worth to see if we can get them a better rate or they are going to look at selling. I see these clients every year and travel to Harvey just to give them updates on their loan. They are now separating but I will still help them if they need to sell their home by organising their discharge form etc so that the separation doesn’t have to be harder than it is.
3) A year after doing a client’s land and construction loan (they were going to use it is an investment) the clients decided to move in instead and they are first home buyers. I helped them to switch to owner occupied rate and then also submit their First Home Owners Grant form direct to State Revenue and also Landgate to get their stamp duty back.
4) I have had a recent client come to me whom was set up with high interest rates through their bank for their land and construction loan. I showed them better rates that they could get with the existing bank and put in a pricing request. I could have moved them to another lender which but they would have to pay a small amount of Lenders Mortgage Insurance again. I said to them if we can get a better rate with CBA would they stay as it will save them from having to pay LMI again. They were happy for me to try and they have stayed with the lender. I have said I will come and see them in 6 months again to review how they are sitting with equity and interest rate.
5) Every 6 months I do an report on the housing prices in the areas of my clients and forward them a copy so they see how their property is travelling in the current market. I also contact my clients quarterly to see how they are going with their loan repayments and send them options of how much their loan can decrease if they pay an little extra every week / fortnight or month.
6) Before submitting a loan with a lender for a refinance I pay from my own money valuations so that we are not putting a hit on their credit file unnecessarily. You don’t see the banks offering to do upfront valuations before looking into their file and creating a hit on their file.