Case Study: Laura

We sat with Laura, based in Brisbane, and discussed her experience of borrowing through loans.com.au, its challenges and the outcome.

My partner and I bought an apartment in West End and we had our finance all lined up with loans.com.au but a dispute between the vendor and the Owner’s Corporation forced us to withdraw from the purchase at the last moment. It was very disappointing. Shortly afterwards, we found an apartment we liked in another suburb. Rather than making us go through the whole application process again, loans.com.au agreed to simply change the security property on the existing approved loan and proceed as before, allowing us to bid with confidence and ultimately saving us a lot of time. Two years later, we refinanced with loans.com.au to fund a major bathroom renovation on the apartment. We did shop around for finance at the time but we found that loans.com.au still had a very competitive rate and we were happy with the service so we stayed.

• Dealing with an unforeseen change in the property we planned to buy
• Funding a 10-month bathroom renovation

“we found that loans.com.au still had a very competitive rate and we were happy with the service”

• We stayed in regular contact with loans.com.au as the situation developed and when we decided to buy a different property instead, they knew all about the background and agreed to finance that purchase without requiring a new application. It was a big challenge but loans.com.au was very supportive the whole time.
• For the bathroom reno we got a loan where we only have to draw down the money when instalments are due to the builder and so we only pay interest on the money from that point.