Clients Success Stories - Success Mortgage & Fianance

The stories you see below are all actual examples of clients we have helped.  Names have been changed to protect our clients’ identities.

Success Story 1

Jim and Jean had a ‘Lease to Purchase’ agreement.

Unfortunately, they had also managed to acquire $44,000 worth of credit card and hire purchase debt, and had quite a bad credit history. They had used two other mortgage brokers with no success, so were quite desperate to find financing, save their home and consolidate their other debt.

The finance institution we applied to came up with an innovative financing package with a condition being that the couple enrol onto a budgeting course which they have done. They were able to settle on their property and did not lose their deposit which was part of their lease to buy arrangement.

Success Story 2

We had four young people (John and Mary and Fred and Ann) who were determined to get into the housing market and buy a property together.

They were all recent graduates and had good jobs, lots of student debt and of course, no deposit.

They wanted a pre-approval for a 100% loan at around $400,000.

The broker they first went to said, “It can’t be done”.

The mobile manager from the bank they approached said, “It’s outside our lending policy”.

We managed to get them a pre-approval for $550,000 from one of the main banks.   Since then they have purchased a home for $440,000 and are very, very happy.

Success Story 3

A property investment company client (Nix Property Ltd) owns several properties.

The client was in the process of subdividing a property and wished to raise enough funding to complete the subdivision and build a new four bedroom house.

We had suggested that they go back to the original two brokers who had arranged loans on two of the properties to re-mortgage at 80% of new valuation figures.  After a couple of months, we were asked if we could do this as the other brokers were having no success at all.

We managed to arrange 85% funding through a major bank at prime bank interest rates.

Success Story 4

Brett and Sue had purchased a section several months ago and settlement was almost due.  They also needed to know that finance would be available when it came time to build. They had a friend who worked in one of the major banks and he had told them he would organise their finance.  After a couple of months he left the bank and went to another bank and told them he would organise their finance at the new bank. Unfortunately, he did not organise the finance and with only four weeks to settlement they were understandably getting very anxious. 

We put in an application to the bank where their friend had previously worked and although this bank were happy to lend the money to complete the section purchase they were not prepared to lend to build the house.

Fortunately, we had an application in at another bank and they said yes.

Success Story 5

We were contacted just before Christmas by a builder who could not obtain enough finance to build an investment property for himself in a popular ski resort area.

His bank couldn’t help and the broker he was using couldn’t help. He had been through a relationship break up over the previous year and was keen to get on track to rebuild his asset base.

After some discussion, we put a proposal to a bank where we had a good relationship with a Business Banker.  Guess what?  The bank said, “YES”.

We now have a very happy builder who has gone on to build a further two houses with funding arranged by us.

Success Story 6

Shane and Annette were English immigrants with Residency. Shane was already here while Annette was still in England settling their house sale. They had been banking with their bank for years (the bank was also here in New Zealand), yet when they personally approached their bank for mortgage finance the bank said no.

We approached their bank and got a yes.  Shane was absolutely flabbergasted and wanted to know how we could get an approval, yet he had personally been turned down.  Shane and Annette also needed some short term finance for their deposit and this was arranged at the same time.

Success Story 7

Tom and Sue came to see us for some mortgage finance.  They had already seen their own bank (who said no) and another mortgage broker who was unable to help.

By the time we met them, they only had one day left in which to organise finance.  What was their problem? The only required $60,000 to purchase. Surely any lending institution would lend such a small amount!

The problem was they had a unique “no interest” loan form a charitable (church based) building society and were understandably reluctant to give this up but wanted it transferred to the new property.

Their bank, and the other mortgage broker they had seen, thought this was a problem as no-one wanted to lend them money on a second mortgage scenario at first mortgage rates.

We came up with an answer to the problem that allowed them to keep their “no interest” loan, and with a lot of effort and only 30 minutes to spare, were able to get an approval.

Success Story 8

An elderly couple, he is 80 and she is 68, wanted to borrow some money to buy a car and undertake some repairs around the house.  This fell outside of most of the major banks lending criteria, and the couple did not understand the concept of a Reverse Annuity Mortgage.

We managed to find a lender who would lend them enough to meet their immediate financing needs and who would also lend a bit extra for any future needs.

The lending product was perfect and is called an Equity Line. No proof of income was required, they would only pay interest on the amount drawn down, and the interest rate was in line with what the major banks charge. The couple are delighted with the result.