How we helped the customers consolidate 11 debt accounts into one home loan payment, saving them $3000 a month with our Specialist home loan.
What was the customer’s situation and how did we help?
Staying on top of large amounts of credit card and personal loan debt can be challenging, especially when two incomes become one.
The customers were struggling financially after having a baby in 2016 and having to rely on only one income for an extended period of time. They took out multiple credit card and personal loans during this time and were unable to stay on top of the repayments.
Unfortunately for this couple, they fell into arrears and were unable to refinance and consolidate debt with mainstream lenders.
How did Connective Elevate help?
We were able to help by consolidating their 11 different personal loans (totaling 150k) into one home loan payment. Before they consolidated their debt, their monthly repayments were $6,400 and now they are paying just over half of that – a saving of $3,000 a month.
What Product did you receive?
Specialist product
Tips from our underwriters
When completing self-employed income submissions using tax returns, ensure you’re working off the nex taxable income, not the net profit.
This publication is intended for Connective and Bluestone accredited introducers and referrers only and is not to be distributed to anyone else, including consumers, under any circumstance. The information provided is general in nature and does not take into account your individual personal needs, requirements and circumstances. It is not a recommendation about any financial product(s) and does not constitute financial or tax advice. If you require financial or tax advice you should consult a licensed financial or tax adviser. The information in this email is given in good faith, believed to be accurate at the time of posting and is subject to change at any time. Information accurate as of 11 November 2022.
Your Connective Elevate Home Loan is administered by Bluestone Servicing Pty Ltd (Bluestone) ACN 122 698 328 (Australian Credit Licence No. 390183) on behalf of the Credit Provider, Permanent Custodians Limited ACN 001 426 384. Distributed by Connective Credit Services Pty Ltd ACN 143 651 496 (Australian Credit Licence No. 389328) trading as Connective Home Loans.
