Now and then sellers throw in a few extras when they’re selling a property, but for one of our recent clients, the purchase included a billiards table.
Stephen and his wife Christina, who have four children, had been off the housing market a while but knew that it was a good time to buy as it was a buyer’s market.
7-year break from house ownership
They’d bought homes in the past but had been stung with their last purchase as they’d only just made a profit. “We knew things were slow and we hadn’t owned a house in seven years. Our previous investment property in Bunbury, we’d owned five years and walked away from with only $5k – which wasn’t much.'“
Stephen and Christina knew the market was slow and that it was a good time to buy. “We moved into a rental house which had been on the market for twelve months. We simply loved the house, but we thought it would be beyond our reach.”
Buying their rental home
The property the couple were renting is in West Beach, a prime location that boasts excellent views. The house is around twenty-five years old, within walking distance to the beach and good schools. Stephen and Christina automatically assumed the property was out of financial reach for them, but to get a definite opinion, they made an appointment to see our mortgage adviser James Durrant.
Getting advice from TV Financial Services
Stephen and Christina spoke to TV Financial Services because they knew they’d have more options than if they went to a bank. Our experienced mortgage adviser, James Durrant, has access to hundreds of different types of mortgages.
“I wanted to throw the net wide and look at lots of mortgages, I knew I’d be limited with choice at banks. Plus, I had a real concern I wouldn’t get the loan amount I wanted. In the past I’d had a HEC’s debt. With the way it was structured I was still paying off a monthly amount.”
Stephen, a rail engineer, knew that come the end of the financial year he’d be owed some tax to ease the family’s financial situation.
Securing the mortgage
James reassured the couple it would be possible to get the mortgage they were after, buy the rental and make it a permanent home. News the couple wanted to hear.
“James suggested a loan which wasn’t fixed and that worked better for us. I am the main earner as my wife is studying and looking after the children. He was so attentive and thorough; I couldn’t have asked for better service.”
Stephen and Christina are now the proud owners of a two-story property with two sunrooms, four bedrooms and plenty of space. And what’s happened to that billiards table? “Everyone dreams of owning one of those, don’t they? Why do you think I have so many new friends? We love it when they pop around and I challenge them to billiards. Of course, I’m teaching the rudiments of the game to my children, it would be silly not too.”