1st Home Buyers Get it Right - 1st Time

David & Kathy* were also first home buyers.  A mature young couple they’d done their research and already knew about Independent Mortgage Planners.  In fact they are friends with Mike & Stacey* (see 1st Home Buyers & the Aussie Broker) and had referred them to us before they’d even become Clients themselves.
David & Kathy knew that they were in a very similar situation to Mike & Stacey.  Because they were also first home buyers and applied for a loan only a few weeks after Mike & Stacey they naturally assumed that the same Lender and Loan Product would be recommended.
However, no two situations are exactly alike no matter how similar they may appear.  Equally Lenders can alter their products, interest rates, credit policies and ‘appetite’ for certain market segments from week to week.
Therefore, we always undertake a specific and detailed analysis of your unique circumstances.
The results of our analysis:
  • We identified a different Lender (to the one we’d selected for their friends) as being most competitive for David & Kathy
  • This Lender only distributes its products via Mortgage Brokers
  • Projected savings over the life of their home loan are over $60,000 - or roughly 16% of the principal amount of the $372K loan - when compared to that same loan from a traditional Mortgage Broker
David & Kathy are now comfortable in the knowledge that they have the lowest cost loan for their circumstances.
Most importantly they know they won’t get caught playing the “rate chase game” and refinancing their loan to a new 30 year mortgage every few years rather than taking ownership of their home.
*     The names have been changed. All other information is accurate and based on a real life Client situation.