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Andy and Sharon – Upgraders

Richard & Michelle – Expatriate Family Donna and Ian – SMSF

Andy and Sharon


Andy and Sharon are the parents of a family with 2 children who recently completed their secondary schooling and were looking at moving from their 1950’s suburban Melbourne family home into a new property that more adequately fulfilled their needs. They were interested in a modern home that provided more luxuries but did not contain assets that required significant maintenance such as a large garden and swimming pool. The fact that their earning power was as per normal but their daily outgoings had reduced due to their children leaving school meant that their debt funding capacity was increased

We combined an assessment of their financial health and capacity to fund their desired debt structure with an updated estimated value of their existing  property (to establish the funds they would most likely have available post the sale of their house) and then worked with our contacts in the real estate and new home building industry to identify suitable sites to demolish and a range of home designs available to give them a feel for the estimated costs to build.

Our proposal

Once they had identified the property to buy and the builder to work with we used the equity unlocked from the sale of the existing house to cover the following:

  1. Home loan to cover the purchase of the new property (to demolish and build on)
  2. Interest only construction loan to fund the building of the new house and then,
  3. Refinanced home loan – once the property was built we arranged for a valuation to be made upon which we could arrange refinancing to an LVR of 80%

Their earnings enabled them to cover their debt repayments as well as costs incurred in renting as they built their new home.

The result

After completion, the house was revalued and we were then able to release further equity to allow Andy and Sharon to purchase another investment property to add to their investment portfolio.

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Andrew Mirams

Andrew Mirams

Andrew Mirams is the Managing Director of Intuitive Finance and is a highly qualified mortgage advisor who holds dual diplomas in Financial Planning (Financial Services) and Banking and Finance (Mortgage Broking). Andrew’s expertise covers all aspects of lending for a diverse range of applications – from first home buyer loans or property upgrader loans, property investor loans, expatriates and loans for self-employed. With almost 30 years of experience, Andrew has been acknowledged by the mortgage industry as one of its best performers with multiple awards including regularly featuring in both the top 100 mortgage brokers list and Top 50 Elite business writers. Andrew was voted Victoria's favourite Mortgage Broker at the 2015 Investors Choice Awards, and won again for the same category at the 2017 Better Business Awards. The team at Intuitive Finance has also figured prominently by winning the 2016 "Best Independent Office (<5 brokers)" and "Best customer Service" Awards, and more recently at the 2017 MFAA National Awards, they also took out the "Best Customer Service" Award, a recognition which speaks for itself! Visit Intuitive Finance for more information.
Andrew Mirams