Michael and Sarah, Sydney
Michael and Sarah were looking to use equity in their home to purchase an investment property. After consultation with their current lender and another mortgage broker, they were disappointed to learn that they were unable release any equity to fund the purchase. Knowing the Orium team was skilled in dealing with complex borrowing scenarios, their accountant referred Michael and Sarah to us.
How we helped
In their initial appointment, Michael and Sarah revealed that they had significant credit card debt which they were paying thousands of dollars in interest on each year. Despite their situation, Orium was able to leverage its relationship with a major bank to access the equity they required to fund the investment property purchase. In addition, Orium managed to obtain additional funds to repay some of their long-standing credit card debt
Due to the relationships and expertise of Orium’s finance advisors, Michael and Sarah were able to purchase an investment property for their long-term wealth building strategy, while at the same time reduce their current home loan rate and pay down their expensive credit card debt. The monthly savings from repaying their credit card debt meant that Michael and Sarah have been paying their home loan off faster, saving thousands of dollars each year.
- Michael and Sarah referred to Orium Finance by their accountant
- Meet with Michael and Sarah to understand their current situation and objectives
- Search for a solution to meet Michael and Sarah's challenging circumstances and present them with a funding strategy to meet their objectives
- Arrange the release of equity for the investment property purchase, as well as equity to repay the credit card debt
- Arrange discounts with the selected lender for the loans
- Pre-complete application forms and manage the submission process
- Ensure the new and existing facilities, as well as offset accounts, are set up correctly
- Periodically review Michael and Sarah's loan package to ensure they have the right package as market conditions change