The following are just a few examples of how Preferred Finance has brought results.
Philip and Jasmine wanted to borrow 95% of their home’s value for debt consolidation, home improvements and a new car but, despite being high income earners, were told by their existing bank that this was outside lending policy. We found a bank that was happy to oblige and arranged a lower and fixed interest rate.
Peter had sold his home to finance a business that, after two years of toil and consolidation, was making good money in its third. However, his bank wouldn’t provide the finance to build a new home because he couldn’t show two years financials with good results. We worked out a way Peter could draw enough equity from his busi¬ness to fund a deposit on a block of land without hurting his cashflow and financed the land purchase. Then, when his financials were available, we obtained another loan for the construction of his house based on his equity in the land. Peter was very happy with the interest rates too.
At 65 James was ready to retire but hated the thought of doing so while he still owed $50,000 on his home. We set up a reverse mortgage, which meant he no longer had to make repayments on the loan as the interest capitalised, and also arranged an additional $25,000 to buy a caravan and fund a trip around Australia.
Adrian wanted to buy a boat costing $70,000. We were able to come up with a way of arranging the funding through Adrian’s business, allowing all interest to be tax deductible.
Simon & Sarah wanted to purchase a second business to merge with their own. A key condition for them was that they did not want to use their home as security, but prior to talking to us didn’t think that this would be possible. We were able to accommodate this requirement by arranging the finance for this purchase via Equipment Finance and Cashflow Finance. Thus, allowing them to complete the purchase without using their home as security. They were very pleased with this outcome.
Josh & Annabel came to Preferred Finance to get finance for their new investment property which they wanted to purchase in joint names. In addition to arrang¬ing their new loan at a very competitive interest rate from the bank of their choice, we ensured that as Josh was the main “breadwinner” he made salary sacrifices of the interest payments from his wages. This enabled them to get maximum tax deductibility from their new invest¬ment property.