Mortgage Refinance Example

David and Helen purchased a property 8 years ago. They had made all repayments to date on the mortgage loan and had been fortunate to see the property appreciate in value over the years.

David and Helen were also paying off 2 motor vehicle loans, a personal loan for an overseas holiday they took the family on last year and 2 credit cards.

David and Helen were meeting all their monthly repayments but were finding it increasingly difficult to manage their money and their repayments.

The Problem

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

Loan Account Interest Rate (%) Balance Monthly Payment
Mortgage Loan 8.00 150,000 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 contacted Fox Symes and applied for a Fox Symes mortgage loan for $203,500 to consolidate all their debts into one monthly payment.

The Fox Symes refinance loan was over a 30 year term and consolidated all their debts into one convenient 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 loan to consolidate their debts was approved.

(The above is an example only and is not a true account)

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

More information on Mortgage Refinance

For Australian residents only

If you are employed and have debts greater than $10,000 please call us on 1300 361 204 or fill in this form. We have live Debt Consultants available to help you now.

Fox Symes Contact Form
Salutation
Full Name   
Home Number
Work Number
Mobile Number
Email Address
Postcode
Property Owner? No * Yes
Unsecured Debt ($)
Time to Call
8am - 11am at
11am - 2pm at
2pm - 5pm at
5pm - 8pm at
Fox Symes takes your privacy very seriously.
* We can still assist you if you are not a property owner.



View Fox Symes in The Media