Case study

Applicant 
Auckland couple, aged 25 and 29 years old, with two children aged 3 and 1. They were looking to improve their financial position to help them on the path to home ownership. Their combined income was approximately $83k, a Net Servicing Ratio of 85% and a strong credit profile. They also had a 2013 vehicle to offer as security.

Application
They applied to consolidate two personal loans at above 15.9%p.a. and a maxed out credit card at 23.9%p.a.

Result
Our team uncovered another personal loan at 13.95% and offered to consolidate a total of $33k into a secured personal loan at 13.90%p.a. over 5 years. The couple are thrilled with the results and happy to now have only one loan payment to manage at a lower rate.