Scenarios – Victorian Mortgage Group

Scenarios

At Victorian Mortgage Group, we want to hear your story.

When it comes to personal finances, there’s no such thing as one size fits all.  That’s why we take the time to delve into the details to get to know you and your situation. Here are some of the people we have helped to get the loans they needed when the banks said no.

  • Regional hotel business owners Tammy and Ahmed wanted to carry out some essential renovations to expand their accommodation. To source the funds they would need, VMG helped each Director to access equity in their residential properties, so as to fund the necessary business improvements.
  • After running her business for two years, Alison’s financials showed a loss in the prior financial year but more recently a return to profit. Alison shared her business trading statements and six months of BAS statements as proof of earnings, enabling her to refinance with VMG and giving her access to the funds she needed to expand her business and purchase new equipment.
  • After returning from an extended overseas visit to sort out pressing family matters, Tom and Fatma had no income for several months, choosing to use credits cards to cover their living expenses. After the pair gained employment, we helped them consolidate their debts - six credit cards and a personal loan - into a single loan that enabled them to take control of their finances.
  • Due to financial pressures Colin was forced to sell his 20-strong cleaning business and in the process acquired debt waiting for the sale to complete. VMG helped Colin to refinance, giving him the opportunity to start over again and two years on, Colin is now focused on a number of smaller contracts requiring fewer employees.
  • Sadie and Antony wanted to refinance their home in order to invest in shares. Their property was valued at 500k with a mortgage of 250k remaining. By reviewing their tax returns, we were able to refinance their mortgage at 400k giving them 150k to invest in a share portfolio.
  • Self-employed mechanic Jimmy came to us hoping to refinance and purchase essential equipment for his business. With a good repayment history and one default to council for rates, Jimmy had lodged one tax return with a second still with his accountant. We worked with Jimmy to review his profit and loss statement, bookkeeping records, and bank statements. We then helped him refinance and secure the cash he needed for new tools and machinery.
  • After being turned away by the banks, self-employed Gia came to us for help. With a clean credit history, full tax returns on file and a good history of repayments on her existing debts, Gia also had a $200K tax debt that she needed to repay. VMG helped her refinance her home loan and tax debt with a reasonable rate of interest.
  • Oscar, a young professional, was hoping to buy his first home but despite having saved a small deposit, he was turned down by the major lenders due to having a few utility defaults on his record from when he was at university. After reviewing his situation we were able to help him secure an 80% LVR loan to complete the purchase of his first property.
  • When Ash went through a complicated separation from her partner, the family home was sold and the couple’s outstanding debts and defaults were cleared using the sale’s proceeds. When she needed funds to purchase a new home, she struggled to find a mortgage lender due to the previous defaults on her record. We were able to work with Ash to find a product that enabled her to buy a new home and move on with her life.