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How Peter is saving thousands towards his retirement since refinancing

"The rate I was able to get through Lendi was 3.69%. The rate I believe I was on with the major bank was 4.5%, and that was their special deal!”

Peter from Brisbane had already paid off his first home loan when he bought a townhouse with his wife. They planned to rent out until they were ready to retire.

He and his wife had been with a major bank for 30 years with their first home loan, but Peter wondered if there were better deals elsewhere.

“Our previous experience was with a major bank and that, as far as I knew, was fine but I don’t necessarily think it was fine in hindsight,” says Peter. “We had a home loan with a major bank for 30 years and we were supposedly special customers because they said they were giving us a special deal. Now I know that ‘special’ doesn’t mean that we actually were getting a great deal.”

It was during his research that Peter found Lendi. He says, “the deal I got with Lendi was far superior to what I had with a major bank. The rate I was able to get through Lendi was 3.69%. The rate I believe I was on with the major bank was 4.5% and that was their special deal.”

He was also very satisfied with the Home Loan Specialists that he dealt with. He says, “[Lendi’s] Home Loan Specialists made sure they kept me informed and advised me every step of the way.”

“God only knows how much we would have saved if I’d gone to Lendi earlier."

"The new loan I got from Lendi paid for itself within two months” says Peter. “The spare money I get from Lendi will contribute to my wife and I being able to have some nice holidays.”

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Tags: refinance, low interest, saving

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Important legal stuff

COMPARISON RATE WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. The comparison rates are based on a loan amount of $150,000 over a loan term of 25 years.
Lendi is the trading name of Lendi Pty Ltd, a related body corporate of your licensed credit assistance provider, Auscred Services Pty Ltd (ACN 164 638 171, Australian Credit Licence Number 442372). We will never sell your email address to any third party or send you nasty spam, promise.
EXAMPLE: This example is current as at 20th October 2016. A Click Loans Online Principal and Interest Loan of $150,000 over 25 years has monthly repayments of $767. This is calculated based on the interest rate of 3.69%, comparison rate of 3.69%, upfront fees of $0 and annual fees of $0.
IMPORTANT INFORMATION: Loan terms of between 1 Year and 40 Years are available subject to lender and credit criteria. Maximum comparison rate will not exceed 14.99% (see comparison rate warning above). Any calculations or estimated savings do not constitute an offer of credit or a credit quote and are only an estimate of what you may be able to achieve based on the accuracy of the information provided. It doesn't take into account any product features or any applicable fees. Our lending criteria and the basis upon which we assess what you can afford may change at any time without notice. Savings shown are based on user inputted data and a loan term of 30 years. All applications for credit are subject to lender credit approval criteria.
Lendi is a privately owned and operated Aussie business. Our mission is to provide Aussies with the right experience when choosing a home loan from our panel of major and non-bank lenders including Click Loans which is a wholly owned subsidiary of Auscred Pty Ltd and a related body corporate of Auscred Services, your credit assistance provider. Although Lendi compares over 1600 products from over 30 lenders, we don't cover the whole market or compare all features and there may be other features or options available to you. While Lendi is 40% owned by founders and employees, we have also been supported by some great minority shareholders including Bailador, Macquarie Bank Ltd and a number of Australian sophisticated investors. We have an independent and founder led board.
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