At Bee Finance Savvy, we often help investors by assisting them in reaching their goals. Often this involves helping them get a new investment loan. It can also be helping them refinance their existing properties. This might be to get cash out for an upcoming purchase, or to find a better interest rate.
When an investor owns multiple properties, they often face significantly more complex lending policies and criteria than the average home buyer. At Bee Finance Savvy, we keep up to date with these rules. This helps us provide a unique service that gives investors pathways to reach their goals.
An investor client case study
Recently, an investor client came to us to prepare for the purchase of another property. They already owned three properties. They wanted to buy a fourth. To do this, they needed cash out of their existing mortgages.
This presented a number of challenges.
For a start, in the present environment some lenders won’t even consider giving cash out on an investment refinance. The lender for their first three properties would only provide cash out upon refinance, if the client could afford to buy the fourth property through them. But unfortunately our client didn’t meet their criteria for the fourth purchase.
So we needed to find lenders more suitable for our client.
One of our panel of over 30 lenders was able to provide a cash out refinance for our client. But they would only do this on two of the existing properties. This was due to restrictions in their calculating system.
This meant that we needed to find another lender to refinance the third existing property. When we found a lender willing to refinance this property, they had strict rules about obtaining cash out. This meant that we had to liaise closely with the lender on our clients behalf to secure the cash out.
So by this point, we had secured refinances with cash our for our client, through the use of two different lenders. The next step was to find finance for the purchase of the fourth property. This was not something that the client’s original lender was willing to provide. The two lenders doing the refinances wouldn’t do this either.
We were able to find yet a third lender who was willing to work with the client to provide finance for the fourth property purchase.
A complex process
Does this sound overwhelming? It would be very hard for the average investor to find the right combination of lenders. Also once these lenders are found, the applications must be completed the right way, to make sure they have the best chance of being approved.
We were able to make this process very simple for our client. Bee Finance Savvy did all the hard work. We carried out all the liaising with lenders on our client’s behalf, so they didn’t have to worry.
I need an investment loan or a refinance – how can Bee Finance Savvy help?
Do you need a investment loan? Do you have multiple investment properties and want to refinance? Or do you need cash out for an investment property purchase? Bee Finance Savvy can help you with all these scenarios and many more.
To find out more, contact Sutherland Shire based broker, Desiree. You can call or text Desiree on 0455 131 937 or 1300 140 554. You can also email her at firstname.lastname@example.org
If you’d like to hear about how Bee Finance Savvy has helped other clients reach their goals, why not take a look at our WOMO reviews page: https://www.wordofmouth.com.au/reviews/bee-finance-savvy-miranda
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