Case study: A new beginning with Liberty

After being turned away by the banks, Jamie had nearly given up hope. Then he met his local Liberty Adviser.

17 Aug 2016 | Personal finance | Share:
17 Aug
Case study: A new beginning with Liberty

Jamie was at the end of his tether when a major life event left him financially compromised. Due to a marriage separation, he had been living away from the family home for a period of six months.On his return he discovered that the utility accounts were all unpaid with the consequence that defaults were listed on his credit report.

As well as clearing this back log of unpaid bills, Jamie had $100,000 of debt to pay out and his home was in need of repair after falling into disarray while he’d been gone. He’d explained his situation to several banks, but because of the defaults, they weren’t prepared to talk to him.

“They just told me to show good conduct and try again in six months, but I couldn’t afford to wait six months.”

“I couldn’t find a lender flexible enough to consider my loan application given my unique circumstances. I hadn’t realised how much these defaults would impact my chances of approval,” said Jamie.

It was at this point Jamie was referred by a friend to a Liberty Adviser who lived locally. Jamie met with the Adviser who patiently went over his documents and financial history to assess his situation. Given his track record Jamie expected to hear bad news. To his surprise, his Adviser told him that Liberty could help.

“I was really taken aback by Liberty’s flexibility. After so many rejections, I didn’t think I would be able to secure finance anywhere,” said Jamie.

With assistance from Liberty, Jamie was able to refinance his existing mortgage to pay out the $100,000 debt and consolidate his utility bills into one easy payment.

“As there was considerable equity in the home and my income was strong, refinancing the mortgage seemed like the most sensible option.

“Refinancing through Liberty enabled me to take control of my finances and life. My house is now in order, looking better than ever, and my finances are once again under control.

“Thank you Liberty for your understanding and for helping me to reach my goals,” said Jamie.