We recently had the pleasure of assisting a lady in her early 60’s (let’s call her Pam) who was considering a move closer to her aging mother. Pam approached her own bank where she had a home loan for many years with an excellent repayment record believing they would look after her in a time of need. How wrong she was. After explaining what she wanted to achieve her existing bank politely advised that she was unable to demonstrate a satisfactory exit strategy and was too old to be taking out a new home loan.
Naturally Pam was devastated by this and had almost given up the idea of buying a home closer to her mother until she was telling her story to a local businessman who suggested she talk to a Credit Adviser from LadyBird HomeLoans. We were able to advise Pam on an alternative loan structure, which provided an exit strategy and a different lender that was more accommodating and understanding to her goals and needs.
Within a week we had an approval in place which enabled Pam to sign a contract on a property closer to her mother. Pam has recently settled on her new purchase and is now preparing to relocate closer to her mother.