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Mortgage Refinance Case Study

David and Helen purchased a property 8 years ago.

David and Helen were also paying off 2 motor vehicle loans and a personal loan for an overseas holiday. They also had 2 credit cards

The Problem

David and Helen's minimum monthly repayments were $2,650 and they were finding it increasingly difficult to manage the repayments on all their loan accounts. A snapshot of their loan accounts revealed the following:

Loan Account Interest Rate (%) Balance Min. Monthly Repayment
Mortgage Loan 6.00 150,000 1,200
Mortgage Vehicle Loan 1 13.50 16,500 300
Mortgage Vehicle Loan 2 11.50 22,500 490
Personal Loan 12.50 8,500 480
2 Credit Cards 18.00 6,000 180
Total   $203,500 $2,650

The Solution

David and Helen contacted Fox Symes and applied for a Fox Symes mortgage refinance loan for $203,500 to consolidate all their debts into one monthly payment.

The Fox Symes mortgage refinance loan was over a 30 year term and consolidated all their debts into one convenient minimum monthly mortgage repayment of $1,550, this compares to what they were previously paying namely $2,650 per month.

David and Helen would have an additional $1,100 per month available to them with no increase in their existing liabilities.

With the assistance of Fox Symes their mortgage refinance loan to consolidate their debts was approved.

More information on Mortgage Refinance

Fox Symes can assist you with a mortgage refinance. We have relationships with numerous lenders who may be able to provide you with a mortgage refinance loan that will assist you.

Fox Symes is the largest provider of debt solutions to individuals and businesses in Australia. Fox Symes helps over 100,000 Australians each year resolve their debt and take financial control.

If you are in debt and want to know more about the solutions available to you contact us on 1300 098 127 or fill out the short contact form.

Enquire Now – Just 4 questions to answer

  1. 1 Do you have a home loan? We can still assist even if you do not have a home loan.
  2. 2 Do you have unsecured debts of $7,000 or greater? Credit cards, store cards and personal loans are types of unsecured debts. Mortgages and car loans are not.
  3. 3 Do you receive a regular income?
  4. 4 Have you been bankrupt in the last 13 years?
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Yes! We can help you

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Fox Symes is the largest provider of debt solutions to individuals and businesses in Australia. We help over 100,000 Australians each year resolve their debt and take financial control.

Option 2: We call you

Unfortunately, we are unable to assist you.

For further assistance we recommend you:

  • Speak to your Creditors
  • Call AFSA on 1300 364 795
  • Speak with a Financial Counsellor
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Unfortunately, we are unable to assist you at this time.

Please contact us for assistance once you have secured a regular income.

We look forward to your call.

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Unfortunately, we are unable to assist you.

You need to have over $7,000 in unsecured debt to apply.
For further assistance we recommend you:

  • Speak to your Creditors
  • Call AFSA on 1300 364 795
  • Speak with a Financial Counsellor
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FREE Phone Consultation

Australian residents only.

  1. Credit cards, store cards and personal loans are types of unsecured debts. Mortgages and car loans are not.
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Australian residents only

FREE Phone Consultation

Australian residents only.

  1. Credit cards, store cards and personal loans are types of unsecured debts. Mortgages and car loans are not.