Customer: Max and Kate 

Type of loan: Refinancing

Loan: $450,000



Max and Kate were unhappy with their home loan and the interest rate they were paying. They were four years into a 30-year loan term and didn't feel their product, nor their lender was meeting their needs. Their current interest rate was 4.24% per annum on their owner-occupied home. They were making Principal and Interest monthly payments and their interest cost for the year was $19,080 per annum.

Max called the team at AMEGA FS and we were able to refinance his home loan to another lender which reduced interest costs and in addition offered better product features that the clients wanted.

By refinancing, we were able to source a lender with an interest rate of 3.69% which equates to an interest cost of $16,605 per annum. This was a huge interest saving of $2,475 in the first year. They also moved to a loan with a multiple offset feature which allowed them to bucket their money and savings and had all their money working for them.

If this sounds like a familiar scenario, then don’t hesitate one moment. Give us a call to assist you save money and pay off your home loan sooner!

The Refinancing a home loan case study is illustrative only and is not an estimate of the investment returns you will receive or fees and costs you will incur.

This case study is based on the following assumptions:

(a) The clients were four years into a 30 year loan term;

(b Their current interest rate was 4.24% per annum, costing them $19,080 over the same period. By refinancing, they secured an interest rate of 3.69%, equating to a cost of $16,605 per annum; and

(c) This produced an interest saving of $2,475 in the first year.   


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You need to consider your financial situation and needs before making any decisions based on this information. If you decide to purchase or vary a financial product, your financial adviser,

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