Client Overview
A family of four based in Perth, Western Australia approached us for guidance on their home loan. The father works in a specialised government role and had been in the same profession for many years. During a period where the family travelled overseas for charity work, their home had been rented out. When they returned to Australia, they resumed living in their property but had not reviewed their mortgage for a long time.
Alongside their mortgage, the family also had a maxed-out credit card and a car loan, which together were creating significant financial pressure.
The Challenge
The clients believed they were “stuck” with their existing lender, one of the major banks. Because of their age and the belief that lenders may not approve a refinance with a shorter working horizon, they felt they had no options.
Their mortgage interest rate had remained high for several years, and the additional repayments from their credit card and car loan meant they were living month-to-month with little financial flexibility.
The stress of managing multiple debts and repayments had begun to affect their confidence in their long-term financial situation.
Our Approach
We began by reviewing the clients’ financial position in detail, including their income, existing loan structure, property value, and overall debt profile.
After assessing their circumstances, we explored refinancing options across multiple lenders. Given the strong equity in their property, we developed a strategy to refinance the existing mortgage and consolidate their other debts into a single loan structure.
The goal was to simplify their finances, reduce their interest costs, and create a more sustainable repayment plan.
The Process
Once we received the necessary documentation, including payslips and loan statements, we conducted a full loan assessment and compared suitable lenders.
Within three days of receiving the complete paperwork, we had prepared and submitted the refinance application. The loan was subsequently approved, allowing the clients to:
• Refinance their existing mortgage
• Consolidate their credit card balance
• Pay out their car loan
• Close both the credit card and car loan accounts
By consolidating their debts and securing a more competitive interest rate, the new loan structure reduced their monthly financial commitments and simplified their repayments.
"A lot of clients think they’re stuck with their current lender, especially later in their working life, but that’s rarely the case. With the right structure, we can simplify everything, reduce repayments, and put them back in control of their financial future."
George Rouchdi
Founder, JC Mortgages
Conclusion
The refinance strategy reduced the family’s monthly repayments by approximately $990 per month and lowered their mortgage interest rate from the high-7% range to the mid-5% range.
With this improved financial position, we worked with the clients to develop a plan to direct part of the monthly savings toward additional mortgage repayments. Based on this strategy, they are now on track to pay off their home loan within the next eight years — before retirement.
The result is a far more manageable financial structure, with the family now free from credit card and car loan debt.
The clients shared a five-star review following the refinance, expressing how the solution significantly reduced their financial stress and improved their overall quality of life.
