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Making Dreams Come True Through Expert Advice and Solutions

Mint Money has been instrumental in transforming the lives of numerous individuals and families. Let’s delve into some inspiring real-life success stories of people who put their trust in Mint Money to fulfil their dreams and achieve financial success.

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Case Studies

We have earned a reputation as a trusted and reliable mortgage broker by consistently helping people achieve their financial goals. Here are some compelling case studies that showcase the transformative impact Mint Money has had on its customers’ lives.

First home buyer short of minimum deposit got his dream home by way of a security guarantee.

Young family looking to upgrade to a bigger house

 wanted to establish their buying power while selling their current home.

A single mother paying off several loans

needed funding for an unplanned expense: home repairs and renovations.

A couple buying their first home realised they needed to borrow more money

to get the house of their dreams, even with a good lending capacity.

A young family buying their first home needed two loans:

one for buying the land it was going to stand on, and the other to construct their house.

A young couple with equity in their home

wanted to invest in a new property.

A woman was about to purchase a new vehicle

but didn’t know if the financing from the car yard was a good deal or not.

A Barrister in his 50s wanted to use his retirement fund

to buy an investment property.

A young couple with a large home loan was looking into refinancing

and product switch options.

A couple in their 50s needed business financing

to purchase a Post Office.

You’re In Good Company

Real stories of homeowners who found success with Mint Money’s mortgage solutions

DIY vs. Mint Money:
A Comparison for Getting a Mortgage

Obtaining a mortgage is a significant financial decision, and you may be considering a do-it-yourself (DIY) approach to save costs or have more control over the process. While DIY may seem tempting, partnering with Mint Money offers several advantages that can make a significant difference in your mortgage experience. Let’s compare:

DIY
  • Numerous choices - some obvious, some vague, some legitimate, some unaccredited
  • Time-consuming research, stressful second-guessing
  • Fine print uncertainty
  • How do you know who to believe?
  • Unforeseen fees and charges, and all sorts of nasty conditions
With Mint Money
  • A full understanding of your options - we’ll present and explain all factors and variables. Our advice could save you thousands.
  • Say goodbye to paperwork and spending time trying to make sense of it all - we’ll handle everything from start to finish.
  • No surprises - we make sure you know all the details.
  • We’re not aligned with a specific loan provider. Our advice will always be in your best interest.
  • We provide free loan advice. It’s lenders who pay us to administer and manage mortgages on their behalf. We’re completely transparent with no hidden costs or commissions.
BEST OPTION

First home buyer short of minimum deposit got his dream home by way of a security guarantee.

BACKGROUND

Tom was on a mission to buy his first property.  He was looking at options for $400,000 and had saved $18,000.

CHALLENGE

To meet the bank’s 5% minimum deposit, he needed $20,000 plus an additional $16,000 for associated government fees and conveyancing costs – totalling $36,000. Tom was significantly short of this, so he resigned himself to saving further.

RESOLUTION

Tom met with Mint Money and we were able to present him with an alternative:


With sufficient equity in their home, Tom’s parents were willing to offer Tom support by way of a security guarantee. To buy the property, a limited liability mortgage was placed on Tom’s parents’ home allowing Tom to leverage off the equity.


Furthermore, some lenders allow the associated costs to also be borrowed, meaning Tom was able to borrow an additional $16,000.


Loan # 1 covered 20% of the purchase price plus associated costs ($96,000).  This loan was secured by both Tom’s new property and his parent’s property.


The second facility, Loan # 2, representing 80% of the purchase price ($320,000), was secured solely by Tom’s new investment property.


With the assistance of his parents, Tom was effectively able to borrow 104% of the purchase price, leaving his own savings to be used for other purposes – like furnishings.


The real saving here? The overall security offered reduced the Loan to Value Ratio (LVR) to below 80% and no Lenders Mortgage Insurance (LMI) was required – saving Tom over $15,000 in an insurance premium.


Mint Money was also able to leverage off the overall-equity-buffer the bank had to negotiate a lower interest rate for Tom. As Tom and his parents were conscious of having their family home securing Tom’s loan, we placed a Debt Reduction Strategy in place to help facilitate the quick release from the mortgage of Tom’s parent’s property.

Young family looking to upgrade to a bigger house wanted to establish their buying power while selling their current home.

BACKGROUND

A young couple with a child and another on the way were paying a mortgage on a 2 bedroom unit and were looking to upgrade to a larger home.

CHALLENGE

These guys wanted to establish their buying power after selling their current home, which had not yet been sold.

RESOLUTION

Mint Money assisted them with getting to know their numbers; things like how much of the sale proceeds they’d have to use as a deposit and what the required residual loan amount would be to buy a larger, more expensive home. We arranged a bridging loan which enabled them to look for a new home while they awaited a buyer for their current unit. Mint Money arranged the application, liaised with their solicitors and assisted with the signing of loan contracts. When our client sold their current unit, we again liaised with their solicitors and the bank to assist with the release of the mortgage.

A single mother paying off several loans needed funding for an unplanned expense: home repairs and renovations.

BACKGROUND

Jenny, a single mother, was meeting her debt requirements but was caught in the rat race and couldn’t get ahead (let alone save for a holiday). She was paying off a $415,000 home loan, a $4,500 credit card, a $13,000 credit card, a $20,000 personal loan, a $7,500 car loan and a debt to a family member.

CHALLENGE

Not only was Jenny in need of a holiday; her home was in dire need of extensions. It was an unexpected expense that she couldn’t afford in her current financial situation.

RESOLUTION

We consolidated all her loans into 1 facility and managed to release an extra $50,000 to renovate her home. In providing this funding, we saved Jenny $3,427 per month. She was finally able to upgrade her home and save for a holiday – all at a lower interest rate than she’d been paying.


How? Mint Money arranged a free valuation on her home to establish the equity position. We organised the application, liaised with the bank to have the loan approved and assisted with the signing of loan contracts. We also assisted in arranging all the banking facilities required.

A couple buying their first home realised they needed to borrow more money to get the house of their dreams, even with a good lending capacity.

BACKGROUND

Andrew & Lucy saved a total of $79,000 and arranged a pre-approval with their bank to buy a home for up to $650,000. They both had well-paying jobs and their lending capacity was quite high.

CHALLENGE

After searching for some time, they realised they needed to pay more for the home they wanted; their deposit was limiting their purchase price. They negotiated a purchase price of $692,500 on their dream home. After contacting the lender who had arranged their pre-approval, they were informed they needed a total of $89,000 to buy that dream home. Borrowing at the bank’s maximum Loan to Value Ratio (LVR) 97%, the lender had arranged a loan for a total of $670,916. As they were borrowing above 80% (LVR), Lenders Mortgage Insurance (LMI) was applicable and whilst the LMI premium could be capitalised to the loan, the premium was so high it meant they needed a higher deposit. They had a $10,000 shortfall.

RESOLUTION

Andrew and Lucy met with Mint Money and explained the circumstances. We were able to use knowledge of the market to find a lender that would allow them to borrow up to 100% of the purchase price. The $79,000 savings they had available was enough to buy the property.

A young family buying their first home needed two loans: one for buying the land it was going to stand on, and the other to construct their house.

BACKGROUND

A young family buying their first home found their dream property – it was a house and land package.

CHALLENGE

They required a loan to buy the land and a second loan to facilitate the construction phase.

RESOLUTION

Mint Money met with these first home buyers to arrange the application and loan approval. We liaised with the valuation firm and our client’s solicitors to ensure a smooth settlement on the land purchase. We then liaised with the builder and assisted our client with progressive drawdown of the loan to accommodate payment of the different stages of construction.

A young couple with equity in their home wanted to invest in a new property.

BACKGROUND

A young couple has a home loan and a large portion of equity in their home.

CHALLENGE

They were seeking to leverage off their equity to buy an investment property.

RESOLUTION

Basing our assessment on the client’s estimated value of their home and taking into account the current mortgage, we established a maximum buy price for the new investment property. Working on estimates in rental income and outgoing expenses for the new property, Mint Money assisted the clients in understanding the real cost to them on a monthly basis.


We also stress-tested this result, factoring in higher interest rates to ensure this was still affordable. Our clients were happy with their current lender so our solution was based on an application to this bank. In arranging a preapproval to buy the investment property, we also negotiated a lower interest rate for their current home loan.


We arranged:

  • a free valuation on their current home to establish their equity position
  • the application
  • the required liaison with our client’s solicitors
  • assistance with the signing of loan contracts
  • all the banking facilities required to accommodate not only their personal everyday requirements but also their new investment lending structure

A woman was about to purchase a new vehicle but didn’t know if the financing from the car yard was a good deal or not.

BACKGROUND

A woman was looking to purchase a new motor vehicle for personal purposes, from a car yard.

CHALLENGE

Having found the car she wanted, the woman considered a personal loan from her bank – until she discovered the high interest rates. She’d also been offered finance from the car yard but wasn’t sure if she was getting a good deal or not; she requested a review of the car loan terms offered by the car yard and it was quickly established that despite the low advertised rates, the commissions the car yard were charging were too high.

RESOLUTION

Mint Money stepped in to arrange quotes from other major lenders in the market, giving our client choice. We assisted with the application and liaised with the lender to have the application approved. We assisted with the execution of loan contracts and the payment of the dealer invoice.

A Barrister in his 50s wanted to use his retirement fund to buy an investment property.

BACKGROUND

A Barrister in his 50s wanted to purchase an investment property.

CHALLENGE

He was looking to utilise his superannuation funds to buy it and he wanted to make sure he was getting the best deal.

RESOLUTION

By working closely with our client’s accountant and financial planner, we established a lending strategy. Mint Money arranged the application and liaised with the bank to achieve a preapproval for the required loan amount. When the property was located, we arranged the valuation, submitting this to the lender to reach an unconditional loan status. We assisted with the signing of loan contracts and liaised with the client’s solicitors to ensure a smooth settlement process.

A young couple with a large home loan was looking into refinancing and product switch options.

BACKGROUND

A young couple with a large home loan were seeking to switch their loan from principal and interest repayments to interest only repayments.

CHALLENGE

As we reviewed their home loan to facilitate the switch of repayment types, it became evident the interest rate was too high.

RESOLUTION

Mint Money met with the couple, established their banking needs and long term financial goals. We then reviewed other lenders in the market, their loan features and the interest rates on offer. Our clients were keen to refinance to another lender given their current lender had not offered a rate reduction in line with the current market. In refinancing to another lender, we arranged a free valuation on the client’s home, negotiated a lower rate than advertised in the market and fee waivers and facilitated the application. Overall, our clients walked away with a tailored loan structure designed to accommodate their future plans.

A couple in their 50s needed business financing to purchase a Post Office.

BACKGROUND

A couple in their 50s were on a search to finance the purchase of a Post Office.

CHALLENGE

They needed help in acquiring a loan with the best rate.

RESOLUTION

We reviewed their debt position to establish options and found there was equity in their home which was sufficient to borrow 80% of funds required. For the balance, we arranged a business loan which incorporated a fixed and floating charge over the post office. In positioning our clients’ eligibility for the business loan, we highlighted their experience in managing a business, experience working in various post offices and the strength of the business being purchased. For the finance side, we dealt directly with the franchise department of a major bank and secured competitive terms on our clients’ behalf.