Client Wins & Cash Incentives…

Refinancing to save thousands on home loan interest.

You have the power to succeed in this market. You just need to ask the right people…

The Problem:

A homeowner approached Connect Me Mortgages, they had a home loan of approximately $300,000 in one fixed rate of 2.35% due to expire.  They were worried about their upcoming home loan rate increase and the impact it would have on their fortnightly repayments and the total time it would take to repay their home loan.  Their new repayments were going to be $1,200 per fortnight that would see them on track to clear the home loan in approximately 16 years.  Despite having over $80,000 in savings, the homeowner was earning minimum interest (around 1% after tax) from their current bank and needed advice on how to best make their money work for them.

The Solution:

Connect Me Mortgages worked with the homeowner to refinance their home loan to a new bank.  Not only did they cut years off their loan, but they also received a $3,000 cash incentive for the switch.  The Mortgage Adviser structured the homeowner’s home loan by ‘parking’ their savings in a revolving credit facility, reducing their fortnightly repayments to $813 and eliminating the need for any repayments on that portion of their loan.  The Mortgage Adviser then spilt the remaining $213,000 of their home loan into two fixed terms with fortnightly repayments set at $1,200, putting the homeowner on track to pay off their home loan in just under nine years, cutting seven years off their original loan term.

The Client WIN:

The homeowner’s fortnightly repayments remained unchanged despite the market interest rate increase, and they were able to cut years off their home loan term while still having access to their savings if needed.  The homeowner showed immense gratitude for the financial advice from Connect Me as they’d never had that kind of assistance before.

If this person was dealing with a bank directly, instead of coming to Connect Me, the bank would likely send a notification pop-up on their internet banking, saying their loan needs a refix with an offer of rates to choose from, and click to accept.  This would’ve increased their repayments in line with new rates and not shown them how to save time and money.

Banks are eager to offer cash incentives for home loans with more than 20% deposit or equity. Which is basically FREE money for choosing to have your loan with a certain bank.

Make sure your money is working for you!  Let’s review your mortgage.  We break barriers for everyday people.  A simple restructure could save you tens of thousands in interest and could cut many years off your mortgage free date.

Our Mortgage Advisers can help you find the best deals and see how many years and thousands of dollars you could save.  Connect Me, connecting you to a financial solution.

A home loan health check is a free service.  Apply online and a Mortgage Adviser will be in touch with you as soon as possible.