Inner Brisbane Residential investment property portfolio refinance
Red & Co. Finance – Mortgage Broking
Red & Co. recently assisted a new client refinance their existing residential investment and owner-occupied debt. The properties were all in A grade Brisbane locations and had been held for a number of years by our client. As we see time and time again, their existing lender had gradually raised the rates on all the facilities over a few years to an average of in the high 5%. This was definitely above market at the time and wasting unnecessary cashflow that could have been better used in our client’s pockets!
What made this scenario interesting?
- Huge savings of over $14,000 (net) achieved in the first year on just $1,500,000 of debt.
- A multiple dwelling property was involved, with few banks having appetite for this type of security. We had to restructure the portfolio such that debt would be removed from the problem security.
- Income was derived from PAYG and contract work which was consistent over a number of years but didn’t necessarily fit all bank’s policies.
- This residential debt consolidation put the borrowers in a better position to refinance commercial debt, also at sub-optimal rates and improve their overall financial position.
If you would like to speak with one of our experienced residential or commercial finance specialist about your loan scenario, don’t hesitate to get in contact with Max Laverty at [email protected] or 0488 707 164.