Below is a great example of how Debt Consolidation can help you get on-top of your finances and achieve your financial and lifestyle goals.
Clients had recently married, and after paying for the wedding and honeymoon, their finances had become stretched. As a result there were a number of unsecured facilities, some of which had late payments. The home loan remained in good order.
Clients approached the broker seeking to:
Transfer ownership of the property from one name to joint names
Consolidate a number unsecured debts with repayment
Obtain cash out to complete cosmetic renovations, as well as to cover the costs associated with the transfer of ownership of the house property
We were able to assist by finding a lender with a Full doc loan at 90% LVR. This allowed the clients to consolidate a number of unsecured debts as well as obtain the cash out they needed. The product we chose allowed for unlimited debt consolidation. The repayment issues on the unsecured debts were acceptable as the lender was able to ascertain that the consolidation put the clients in a much more manageable financial position going-forward.
The clients are very happy – they are now enjoying living in their new family home and will start the refurbishment projects together, without the stress of numerous debts to manage.