13/11/2023
Meet John and his wife, owners of a bustling Melbourne café and parents to five wonderful children. They found themselves in a tough spot with a private loan mortgage against their home, but our team at Marillion was determined to help.
Their property was valued at $1,270,000, and they owed $963,563, with an LVR (Loan-to-Value Ratio) of 75%. To make matters more challenging, John and his wife had two defaults on their credit reports from previous business loans.
Things got even more complicated when they were on the brink of losing their home. Another broker couldn't find a way to refinance them out of the private loan, and they had the sheriff knocking on their door, giving them a time frame to vacate their home.
But, here's where the Marillion magic happened! We reviewed their private loan and arranged for cash-out funds to repay those troublesome credit defaults. This not only gave them financial relief but also boosted their LVR to 85%, avoiding the need for Lender's Mortgage Insurance (LMI).
John, his wife, and their five children can now enjoy peace of mind, thanks to our dedicated support and tailored financial solutions. These are the sort of deals that remind us of why we do what we do. Your home and financial well-being matter to us. 🏡🌟
Need help with finance?
Get in touch via message or the link below:
marillionfs.com.au
