Orium Finance Contact 02 8330 3700
Dane, NSW Refinance & pre-approval

Borrowing type:


Borrowing structure:

Refinance and pre-approval

Finance partner:

Dane – 34, Bondi, NSW

  • Originated from NZ
  • NZ provided a different lending criteria and policy which restricted wealth growth
  • He required someone to work with and not against him to provide solutions and better rates
  • Wanted to free up cash flow


  • Refinance: saved $450 a month by switching lenders
  • Pre-approval: to provide option to upgrade properties with a quick turnaround

Challenges and concerns

When Dane applied for his first bridging loan, he dealt directly with the bank and avoided working with a mortgage broker.

“The consequence of working with the bank over a mortgage broker was that I received a much higher interest rate and less flexibility within the loan as no one was working for my individual interests. Due to complete laziness, I ended up sticking with that loan and interest rate and it wasn’t until I spoke with Orium that they recommended to do a refinance.”

Dane consulted with a team with experience to provide options for him. His family had a baby on the way so he had less time to work everyone out on his own.

“The main concern I had about engaging a mortgage broker was the amount of time it was going to take me to get a pre-approval on another property I had as the market moves so fast. This was out of Orium’s control, however my concerns were alleviated when working with the team.”

Working with Orium

We worked with Dane to refinance his existing loan.

“Orium looked at my financial information and provided me with a guide of what the market rate should be based on the loan I had. They gave me a few options in regards to the refinance, split between rate and cashback and flexibility with offsets.”

“Orium negotiated with the banks on my behalf and worked with my requirements as well. I get lenders mortgage insurance (LMI) waived so there were limited banks for them to work with. They were still able to present multiple options to me”.

“By restructuring the loan I was about to save around $400-500 a month, which is quite a large saving”.

About a year later, Dane needed a pre-approval for the purchase of another property. His valuation on his current home was below market price and he was seeking multiple valuations to ensure he was getting the most accurate price.

“This process was fairly time consuming and Orium helped me to find the best valuation and guided me through the whole process when they necessarily didn’t have to. The bank that valued my property at the highest price happened to be quite a new bank for Orium. However, they still worked with me throughout that whole process and solved any issues that arose. It was a longer process that they were probably used to, not having an existing relationship with the bank, but they were doing everything in my best interest and did it well”.

The Outcome

“The main advantage of working with Orium is that you have someone working for your individual needs who has the commercial in-depth knowledge and experience of how everything works. I could always ask them questions if I was ever unsure about something and they would explain it really well, rather then having a rollercoaster experience with the bank who usually only has their own best interest in mind. It definitely protects you going through a broker”.

“Orium are very approachable and hard working. Whenever I had a question they always got back to – they were great communicators.”

“I had confidence in working with Orium because there was legitimacy with the documents that were being produced, which were being done in a timely manner. Also, the new interest rates through the refinance were much more competitive and the overall outcome is what I wanted in the first place”.

Find out how we can help you

Hear from Dane

“I wanted to free up as much cash as I could so I could have some flexibility with future investments. Now that I have that cash on hand, I now have the ability to purchase another asset such as an investment property.”

Hear from Dane

“Advice to anyone is that there is no harm in reaching out to a mortgage broker and explaining your situation to seek alternative quotes. It’s important to compare your options for what you’re trying to achieve with your personal goals. You never know if you are getting the best deal with a current bank or with your previous broker, so it doesn’t hurt to explore all options – it doesn’t cost you anything to enquire”.

Speak to our team today to see how you can achieve your financial goals.

One of our mortgage brokers will contact you to discuss the following:

  • Get to know your financial objectives
  • Help you to understand your borrowing capacity
  • Take you through how we can assist you with your finances

We look forward to hearing from you – please enter your details and we’ll be in touch shortly

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