Case Study: Just Funded Investment Purchase

🏡 Client Profile: (name changed for privacy) 

• Name: Naveet & Sooki H

• Occupations: IT Contractor / Not working

• Location: Sydney, NSW

• Dream: Building wealth through property investment

🙅The Challenge:

• Naveet & Sooki bought a $950,000 property off the plan in Sydney 18 months ago. The developer notified him he was soon due for settlement but since the purchase Sooki had stopped working, and they no longer had the borrowing capacity required for the loan. 😱

• They were in the process of selling a non-performing investment property to release cash/borrowing capacity however it wouldn’t sell in time to complete on the off the plan purchase.

• Naveet & Sooki were going to lose over $100,000 from a paid deposit plus expenses if they couldn’t complete on the purchase.

🎯Our Approach:

• Personalised Consultation: Conducted an in-depth consultation to understand Naveet and Sooki’s unique challenge, and his financial goals and preferences.

• Education: Educated the clients on various mortgage options, including second tier and private lending solutions that could bridge the gap.

• Market Analysis: Analysed the local real estate market to provide insights on the property they were trying to complete on. It was evident there was $150,000 in value uplift on the property since they purchased it off the plan, so he had a vested interest in trying to keep it!

💡The Solution:

• Phase 1: Tailored Private Lending Solution: Designed a customised mortgage plan with a short term 6-month private lending solution that enabled the clients to finalise the off the plan purchase while they completed the sale of their other investment property.

• Phase 2: Refinance of Private Debt to Mainstream: Three months later the non-performing property was sold and settled. We assisted Naveet and Sooki to refinance the private debt to a major lender, and refinance their home loan to improve the rate and terms.

• Guidance: Provided step-by-step guidance throughout the application and approval process, keeping Naveet and Sooki informed and confident.

🥇The Outcome:

• Successful Funding: Secured various mortgages with competitive rates and terms.

• Financial Empowerment: Naveet & Sooki gained valuable knowledge about mortgage solutions and were able to complete the purchase of a brand new high performing investment property in a growth location. setting them on the path to wealth creation.

☄️Client Testimonial: 

"We had a very tricky mortgage situation. We signed an off the plan contract. When the property was ready for settlement, we were struggling to get a loan with one income. We had difficulty to a get loan from a top tier lender. MAB helped us to find a lender who offered us a bridging loan. Once that settlement took place, Mark and his team helped us to find a top tier lender within 3 months’ time to refinance the bridging loan. Mark and his team's support specially Pragati were outstanding. Their advice and recommendations helped us to make the right choice.