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Andy and Sharon – Upgraders

Empty nesters ready to upgrade to a modern yet low-maintenance home

Andy and Sharon’s children recently completed their secondary schooling, leaving them with reduced daily outgoings that resulted in an increased debt funding capacity. They were ready to move from their 1950s suburban Melbourne family home into a newer, more modern property that provided more luxuries without the high-maintenance assets (a large garden, swimming pool, etc.). They were keen to acquire a new site and build a brand new residence.

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    Valuation of existing property and unlocking its equity

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    Referral to trusted industry contacts

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    Obtaining an interest-only construction loan and refinanced home loan

Case Study Andy And Sharon2 500x500
Our proposal

Intuitive Finance referred Andy and Sharon to some of our trusted industry contacts in real estate and new home building to help them find the best property and builders for them. Once they had identified the property to buy and the builder to work with, we used the equity unlocked from the sale of their existing house to cover:

  • Home loan for the purchase of the new property to demolish and build on
  • Interest-only construction loan to fund the building of the new house
  • A 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%
The Outcome

Andy and Sharon were able to build their new dream home, and as their earnings enabled them to cover their debt repayments as well as costs incurred in renting, they were able to confidently navigate the costs with assistance from Intuitive Finance.

Andrew Mirams
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