Sydney-based Peter is relishing the savings provided by a home loan refinance.
My old home loan was becoming a millstone. It had a higher rate than many other loans around, and each time I looked at the loan statement it was pretty obvious I wasn't making any progress paying off the balance.
When I saw the Mortgage Choice sign in my local neighbourhood it seemed this was my opportunity to turn the situation around. I had a reasonable idea of the sort of paperwork a lender would want to see, so I gathered everything together and headed out to meet with Mortgage Choice to talk about refinancing my loan.
It's fair to say I was delighted by the support I received from my Mortgage Choice broker right from that first meeting.
Nothing was too much trouble, and my broker was exceptionally knowledgeable about the home loans available in the market. This gave me a lot of confidence that I was making the right decision both to refinance and with my eventual choice of loan.
The real surprise came just three days later when my broker phoned to say my new loan had been approved. It was an incredibly quick turnaround, and for me that was very exciting because it meant I could start making headway with my new home loan as soon as possible.
My Mortgage Choice broker had discussed a number of different types of loans, and he explained how an offset loan could be useful in my circumstances. He was absolutely spot on because after only a few months I can really see the impact the offset account is having. After all those years feeling like I was getting nowhere, I am starting to see the loan balance fall and it feels really good.
I found my Mortgage Choice broker offered outstanding service at every stage of my refinancing process – he was even able to negotiate a handy discount off the advertised rate on my new loan. That's definitely something I wouldn't have been able to achieve on my own and it's meant even more savings for me.
When it came time to sign the loan paperwork, my broker even accompanied me to the lender's office. That was a nice touch – and he has stayed in contact to make sure I'm happy with the new loan.
I'd certainly recommend Mortgage Choice, and I've already referred a number of friends to my broker. After all, three days to refinance my home loan; a hassle-free process where the broker did all the work; and big savings on my home loan - that's what I call a great result. Mortgage Choice has definitely put me in a better place financially.