A Single Mother’s Journey to Securing Her Dream Home
Client Background:
Sarah*, a single mother of three, had a dream of providing her children with a stable home. After years of saving, she found the perfect property—a large block of land with an incomplete build. Excited and determined, she secured pre-approval with a major bank and purchased the property with a 14-day finance clause.
The Challenge:
Just days before the finance due date, Sarah’s bank assured her the loan would be approved. Confident in their assurance, she waived the finance clause. However, the bank later declined her application due to the nature of the security (the incomplete build).
Faced with the risk of losing her deposit and legal repercussions, Sarah was forced to:
Take out a high-interest personal loan (with interest rates in the double digits).
Borrow a significant amount of money from her parents to complete the settlement.
The stress of managing these debts while trying to complete the build was overwhelming. Sarah felt trapped and unsure of her next steps.
How We Helped:
Sarah was introduced to Australian Finance Brokerage one month after settling on the property. Desperate for a solution, she reached out to us, hoping we could help her navigate the financial situation she was in.
Our team sprang into action:
Assessed Her Situation: We reviewed Sarah’s financial position, the property details, and her goals.
Secured Competitive Finance: Despite the challenges, we found a lender willing to provide a loan at a competitive interest rate, given the circumstances.
Provided Immediate Relief: Within one month of our initial meeting, we secured the funds Sarah needed to:
Pay off her high-interest personal loan.
Repay her parents in full.
Access additional funds to continue the build.
Planned for the Future: Once the build is complete, we’ll refinance Sarah’s loan with a major lender, ensuring she gets the best possible rate and terms.
The Outcome:
Sarah’s story is one of resilience and hope. Thanks to our tailored solution, she:
Eliminated the burden of high-interest debt.
Repaid her parents, restoring family relationships.
Gained peace of mind knowing her dream home is within reach.
Sarah is now on track to complete her build and create a stable, loving home for her children.
The takeaway:
Sarah’s story is a powerful reminder that even in the most challenging situations, there’s always a solution. At Australian Finance Brokerage, we’re here to help you navigate the complexities of property finance and turn your dreams into reality.
Are you facing a similar challenge? Let’s chat about how we can help you.
*Sarah’s name has been changed to protect her identity.
