Client Profile
Ted, a qualified solicitor, had recently started a new role at a mid-sized private law firm in Melbourne. With over 6 years of legal experience and an annual income of $160,000, his goal was to refinance his existing home loan to secure a sharper rate and improve cash flow. Despite the recent employment change, he remained within the legal profession.
The Goal
Ted wanted to refinance to take advantage of falling interest rates and reduce his monthly repayments. However, he was concerned that his recent job change might weaken his application in the eyes of lenders.
Our Strategy
- Built a strong case using his new employment contract, written confirmation of income from his new firm, and historical payslips to demonstrate consistent earning capacity in the same profession
- Chose a lender with flexible policy for professionals who have recently changed jobs but remain in the same industry
The Result
- Ted was approved smoothly, with no issues, despite the recent employment change
- His rate dropped from 6.14% to 5.49%, saving him over $3,800 annually in interest
- He also received a $2,000 cashback, providing an immediate boost to his savings
Conclusion
Switching roles doesn’t have to delay your refinancing plans, especially in respected and stable professions like law. If you’re a lawyer looking to refinance for a better rate or simpler loan, we know how to present your case to lenders the right way. We’ll guide you through every step.
