Background:  

John, a Melbourne investment property owner, was paying an interest rate that we considered to be above market at 6.39%.  His investment property had not been valued by the Bank/Lender for a couple of years. 

Our Approach:  

As part of our ongoing client service program, we proactively arranged an updated property valuation for John (at no cost), which resulted in a lower Loan to Value Ratio (LVR).  We then used this lower LVR as a negotiating tool to influence a lower interest rate with his existing Lender. 

Outcome:  

The interest rate was reduced from 6.39% to 6.19% which led to lower monthly payments and significant savings of over $25,000 during the life of the loan.  

This case highlights the value of proactive mortgage management – something we invest a lot of time in here at First Point Group.  By acting on John’s behalf, we achieved considerable savings for him, showcasing the advantage of having a dedicated Mortgage Broker in your corner.