Loan Amendments

Talk to the wHeregroup about any changes to your loan account.....

With the GFC slowly making its way out of the news, it’s still apparent lenders are feeling the brunt of the cost of funding. So much so that the same client can achieve up to $100,000 more in borrowings by exploring different lenders.

The reason for this difference in lending is a mixture of many things including;

Flavor of lending – some lenders favour self employed over PAYG customers, others favour rural lending while some favour units

Exposure to markets – one lender may have a large pool of lending to a concentrated area, thus, when they have an exposure to an area in Australia or even Sydney or a particular building, the limit their risk where possible by knocking back business.

Living expenses – some lenders now include Private health insurance and child care as a monthly expense, while others don’t, this can change the maximum lending by tens of thousands of dollars.

Assessment rates – while one lender adds a buffer of 2% to the customer rate when servicing a loan, another may add only 1.5%, and again, this changes what you can do from one lender to another.

Contact us for any of the following;

• Top Up of existing lending
• Setting up an offset account
• Refinance of existing loan
• Fixing your loan
• Review of lending portfolio
• Application for discount
• Switching from Principle and interest repayments to Interest Only or visa verse

So whether you are just getting a top up on your existing loan or want a full review on your entire lending portfolio and whether you are “still” on a good deal, the wHeregroup can look after you across the board.

Contact us today to book a time