Meet Lou — In conversation with our amazing lending specialist.

Matt and I just refinanced our home loan. We needed to consolidate a few things, tack a little more onto our home loan and take advantage of really low interest rates. And it got me thinking about the different options available to our clients to finance a pool. 

Everyone’s circumstances are unique and of course we don’t want anyone to overcommit themselves, but if you’ve been dreaming of a pool for as long as you can remember then it’s definitely worth exploring your options. And amidst all the turmoil the world is in right now, there could be great opportunity in speaking to a lending specialist. It doesn't even have to be for a pool!

If you’ve driven past Tribe Social Fitness you might recognise the person I’m about to introduce you to. She’s plastered on the banner that stands 2m tall showcasing the amazing results she's achieved in her health and fitness. We both enjoy challenging ourselves at the gym and in our businesses and I promise you, she’s the girl you want in your corner.

But of course, she doesn’t work alone. Another amazing husband and wife duo, our friends Stuart and Louise Sutherland at Smartline Mortgage Advisers really know their stuff. And in this blog they have given us a snapshot of how you might secure finance to move forward on your pool. 

Aside from the obvious value a pool adds to your lifestyle, it is also an excellent investment in the value of your property.

Often, the quickest and easiest way to access funds to build your dream pool, is to unlock the equity your home is currently holding.

There are two ways you can do this.

You can "top up" your existing home loan with your existing lender - that is increasing your loan limit to the agreed amount with your bank. 

Or you can refinance, increasing the size of your loan to cover the costs of the new pool build. You can also use this opportunity to consolidate any other lending - credit cards, cars etc.  

Right now, banks are open for business. But it is worth noting, there is a range of different approval policies from bank to bank in this current environment. 

Louise and Stuart are seeing a large amount of competition between lenders on refinancing, with some even offering cashbacks of up to $4,000 to move. That's definitely worth the exercise. And by using a broker who is accredited with a broad range of lenders, you are more likely to find the loan most suited to you and your family. And at a very competitive rate. Fixed rates in particular right now are at an unprecedented low. 

Another option is an unsecured personal loan. Generally these bring higher repayments over a shorter loan term. And the interest rate is higher than a homeloan. But, they can be a short term solution for those not wanting to use their homes as security. And they are quick to process. 

There are other avenues too like Line of Credit facilities and Building and Construction Loans all of which you’ll need to do your research on to find the right fit for you.  

So there you have it. If you’re like us then you always feel better knowing the options that are available to you.

So please, feel free to give Stuart or Lou a call at any time - they’re more than happy to help. Louise 0412 236 001  Stuart 0401 641 773 or email ssutherland@smartline.com.au

You’ll find them on their socials too !