Blog
Could a deposit bond be your solution to securing a property?
Before taking their property off the market, your vendor wants a deposit to ensure that you will settle, but your funds won’t be available until settlement. What do you do? Most vendors require property purchasers to pay a deposit ahead of settlement as a commitment to purchase the property. If a purchaser doesn’t have that…
Case study: why you need access to many lenders
When experienced property investor Tim Gordon agreed to buy a block of land, he didn’t expect the land’s mining-town location to make it difficult to secure finance. After failing to find a lender who could help him, he visited a finance manager who found just the right mortgage for his needs. Tim Gordon, an experienced…
Case study: corporate restructure to improve cashflow
When the directors of a national medical company were having difficulties with the company’s superannuation payments, they turned to their finance manager for help. Working with a team of finance professionals, the finance manager was able to solve the super dilemma and improve the company’s cashflow. Experiencing difficulty covering superannuation payments, the directors of a…
Case study: when commercial failure means losing the house
When the losses sustained by Maree’s high-end retail business spun out of control, Maree and Jacob found their only option was to sell their home or face severe financial strain. Before starting the business, Maree and Jacob had paid out the mortgage on their $3 million property and had enough capital to further renovate their…
Case study: SMSF loans
Michelle was quite financially savvy. She managed her own super fund, and had approached her bank for a loan to purchase a property through it. Thinking the finance was sorted out, she made an offer. The bank, which didn’t specialise in SMSF lending, had approved the loan in Michelle’s personal name. Unfortunately, the property was…
Case study: saved by the refinance
Things had taken a turn for the worse for James Merrick, with looming debt threatening to force him into selling his home. A baker employed by a large company, James had taken the opportunity to work overtime to help relieve his debts, but no matter how hard he worked, he could not seem to catch…
Case study: One man, a baby and a mortgage
When Mitchell Bradley’s wife left him holding a baby and a mortgage, he did his best to keep up with payments for a while, before giving in and waiting for the bank to foreclose. Then his neighbour suggested he speak to a broker about his options. “Mitchell came to me at the 11th hour,” explains…
Case study: on tailored time
Tim Lismore doesn’t work traditional hours, so when he was looking at refinancing, he needed someone handling his mortgage who could meet on his terms. With a job that frequently took him overseas, Tim Lismore didn’t have a lot of time to dedicate to mortgage financing with his Australian bank. He could only access his…
Case study: keeping the home despite family difficulties
The stakes were high for John and Michelle, who were dealing with a child’s ill health and, as a result, extreme financial and emotional stress. John and Michelle were facing a number of difficulties in their life. First, their second child had fallen seriously ill. The family was regularly flying interstate to a Melbourne hospital…
Case study: finding the right lender match
When a FinanceCorp Finance Manager met with husband and wife duo, Melissa and Andrew, he was told that their vendor had requested them to waive their right to a cooling-off period. “While Melissa and Andrew had pre-approval with one of the major banks, they didn’t have formal approval, and this could only be effected after…