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Kevin & Martine

Client Stories

Kevin & Martine

Client Stories

Multiple property purchasers and upgraders

The Scenario

Kevin and Martine are a couple with a young child plus 2 older children to look after.  They live in Sydney’s Sutherland Shire and work in the emergency services with stable employment/incomes.

They both owned properties before they met and had generated strong equity positions.

With the arrival of a baby, plus other kids to look after, they knew that they needed a bigger house…something had to happen within 6-12 months.

How they came to Vision  

Kevin was referred to Vision by a friend back in in 2001 when he was looking for his first home.  He was a good saver and keen to adopt Vision’s ‘owner-occupied, offset strategy’.  This is ideal for people who want the flexibility of using their initial home as an investment property in the future (which Kevin ended up doing). 

This small piece of loan structuring advice saves thousands of dollars for the suitable property accumulator.

Kevin built up equity with the increase in property value and had his savings working to reduce his repayments.  He felt comfortable thinking about an investment property and made a 2nd purchase.

When Kevin and Martine met and wanted to buy a property together, they decided to pool their equity/resources and appoint Vision as their source of mortgage advice.

The main challenges

Kevin and Martine were looking for a property throughout mid-2015 to early 2016, a time when the Sydney property market was moving quickly.

Do they rent or buy the bigger house?

If they buy, do they sell first?

Do they sell one property or two?

Bridging or no bridging?

Buy something ready to move into or buy something to renovate?

How high do they go with their offer?

How Vision helped

Scenarios, scenarios, scenarios…

Most of the time, what Kevin and Martine needed was our time.  With everything happening it was natural for them to think about lots of different options.  They needed time to talk through all of these, without feeling any barriers. 

Much time was spent on speaker phone on a Friday afternoon discussing borrowing capacities, what if scenarios, how different lenders might view their circumstances and how their ‘end’ picture would look (plus how much we needed a Friday wine at the end of the conversation!!).

It took a number of different loan applications and they were close on a number of properties prior to landing the one they wanted!!

What was done?

This is the technical part….over 6 months, Vision arranged:

A discharge of 3 property loans with multiple borrowers

A security substitution, using cash for security between sale and purchase (to avoid unnecessarily paying off an investment loan and losing tax deductions)

Multiple loan approvals for different situations (bridging, and then non-bridging and more)

Final approval in relation to the final property

This required an experienced broking firm with a team of specialists capable of executing this train of events. This is the part of our job we love…being there for the whole process.

Where to now?

Kevin and Martine will get to spend time settling into their new home, adding their own personal touches.  When they come up for air, they may think about their next investment purchase, but at the moment, nothing matters…

They got their home

They understand why they needed to look at a new lender

They understand their new loan structure

They understand how their repayments fit into their budgets

They have excellent rates / fee structures (which Vision reviews annually)

They have someone to call ANYTIME they need

What Kevin and Martine have to say

"When we decided it was time to change our living arrangements we knew we had a good financial base together, however we didn’t know how complex our situation would be.

We contacted the Vision team for advice, as we had done for mortgage advice in the past.  We soon realised the complexity of our situation. 

Over the following months Dave and the team advised us of numerous suitable options to move forward.   At one stage these options were changing on a weekly basis, as our opportunities evolved.  Dave and the team could not have been more accommodating, considering the pace our situation was changing. 

After numerous loan pre-approvals and missed offers we managed to secure our new property.  It was a bumpy ride however the Vision team were there for every step and lifted to every challenge we threw at them."

"When we decided it was time to change our living arrangements we knew we had a good financial base together, however we didn’t know how complex our situation would be.

We contacted the Vision team for advice, as we had done for mortgage advice in the past.  We soon realised the complexity of our situation. 

Over the following months Dave and the team advised us of numerous suitable options to move forward.   At one stage these options were changing on a weekly basis, as our opportunities evolved.  Dave and the team could not have been more accommodating, considering the pace our situation was changing. 

After numerous loan pre-approvals and missed offers we managed to secure our new property.  It was a bumpy ride however the Vision team were there for every step and lifted to every challenge we threw at them."

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