When times are uncertain, getting advice is really important.
We recently established Addept Finance so we can help our clients with their finance and borrowing requirements. Addept Finance is a joint venture with Martin Roach of Smartline Mortgage Advisers. Martin has a Diploma of Finance Services and is an expert in his field.
We are seeing the cashflow impact due to reductions in income from casual employees getting less work or self-employed business owners experiencing reductions in trade.
We are here to help you with options that can provide more cash, this may be;
Negotiating lower interest rates with existing lenders,
Confirming access to redraw on current loans,
Confirming what equity is available in your properties,
Refinancing, consolidating or restructuring existing debt or
Hardship applications
Many lenders are offering really generous cashback rebates of between $2,000 - $4,000, having a lower rate and a cash incentive can make changing lenders easier.
Refinancing costs are normally around $700 - $1000 so this change can be cash positive. This cash can also assist with break costs on existing fixed rate loans.
With lower assessment rates and additional equity in properties the option to provide additional cash or assist with ongoing cashflow with lower repayments, may position you or your loved ones in a better situation over the coming months.
For businesses we also have access to lenders providing unsecured short-term loans with fast turnaround.
Lenders are also able to provide hardship options that may assist to reduce or delay current repayments, which we can help with.
We are being socially responsible and are doing everything remotely. We are having virtual meetings via phone and video conferencing, options like Zoom and Microsoft Teams. The data we need for application can be gathered via scan and email or photo and texts or reply-paid post.
Please know early action can provide more options to act than waiting and limiting the options you have now. Please give us a call, we are here to help.