Launch Finance recently assisted a client in obtaining an Unsecured Personal Loan in order to keep his house during a settlement agreement with his ex-partner. The client came to Launch Finance seeking a solution to a property valuation shortfall for a property that he shared with his ex-partner. The couple shared an existing home and due to a reduction in property value over the past 12 months, equity release in their home had decreased.
The client was keen to keep the house to avoid selling in a soft property market. In order to keep the house he needed to provide his ex-partner with $25,000. The client was going to increase his home loan to pay out his partner, but would have had to pay Lenders Mortgage Insurance of nearly $16,000.
Launch Finance advised the client that an Unsecured Personal Loan with a rate of 10.8% would be the most affordable way of achieving the settlement agreement cost. Launch Finance saved the client over $16,000 that he otherwise would have paid without the knowledge of the Unsecured Personal Loan. Our brokers have 70+ years worth of combined experience and knowledge in finance broking, which allows them to advise our clients on the best loan option for their personal situation.