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March 2019 Success Story and Loan Market updates

By: lionel0 comments

Two Investment Properties: House in Colebee & an Apartment in Merrylands
Dual Refinance Done and settled on 5th March 2019

Benefits:

  • Savings in the first year

($595,343*4.05% + $492,789*4.48%=$46188.34) minus ($1,088,132*3.98%= $43,407.65)

Total savings $46,188.34-$43,407.65= $2780.69 INTEREST SAVED (In the first year)

  • $1500 cashback (no out of pocket)
  • Loan consolidation to just one lender
  • Some cashout done for renovations and personal matters
    Total loan amount $1,168 million

Challenges and Interesting Facts:

  • Valuation came down lower for the apartment
  • Used the equity to cover up the shortfall in valuation without doing a cross-collateral 

Events and Networking

This year so far has been a year with plentiful of events and functions to get to catch up with old and new friends. Lionel Finance under Glass Financial Group held an event at the beautiful MUSE for our business partners just last week. Another event (left picture) is Chatswood Chamber of Commerce event at AMP Advice

 

Rates Updates

Many recent movements of interest rates both upwards and downwards

Please check with me for more information that may suit you

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