Landlord saves $3500 in interest p.a. through Loan Market broker
Ashleigh Harris had a Landlord that has had a bit of a nightmare with her Investment property. Ashleigh had to make multiple bad news calls to her with maintenance issues.
At first when the tenants moved in it was discovered there was no electricity box due to the previous tenants doing some dodgy things (not managed by Ray White). The Landlord not only had to pay the cost of replacing the electricity box, she also had to pay to accommodate her tenants while this was done. Within a few months she then had issues with decking being rotted, outdoor spa needing to be replaced/fixed and some other minor issues. The repairs have all up cost about $10,000.
On the most recent call Ashleigh made to the Landlord, she suggested a call to Loan Market. She explained they may be able to either access some equity in the property to cover the costs and in the process be able to save her some interest to try and counteract the costs.
Mortgage broker Jacqui Meehan met with the Landlord and determined they could both release some equity for her and in the process save her approx $3,500 per year in interest. Jacqui has now sent the application for $695,000 to be processed and submitted.
The Landlord is wrapped with the service that has been provided from Loan Market as a nightmare situation had been turned into a positive outcome.