“Working with a broker made sense to us. This was a big decision and we wanted to engage an expert that was objective, knew the pitfalls, and had our best interests at heart.”
In part one of our series on Mary and Frank Flannery’s mid-century St Kilda East home, we spoke to the couple about the experience of falling in love with their new dream property.
In part two, we catch up with the Flannery’s to talk about how working with Aviser Finance’s principal broker Martin set them up not only to buy but to renovate at their own pace, without needing to take out future loans.
Aviser: What was the deciding factor in working with a finance broker?
Frank: Working with a broker made sense to us. We wanted to get the best deal but didn’t want to spend weeks scrolling through websites, playing with calculators, and reading the fine print. This was a big decision and we wanted to engage an expert that was objective, knew the pitfalls, and had our best interests at heart.
Mary: It also wasn’t particularly straightforward. We wanted a facility we could draw down on to do the renovations and we also had some investment properties and so wanted to consider whether we could bundle our loans and get a better deal.
A: How long have you been looking to buy and what has the process been like?
F: We had been looking for about 6 months. We had made offers on several houses and been outbid on three others so we were feeling pretty despondent. Many properties had also sold at auction well over the range, we even engaged a buyer’s advocate to help us with the search.
M: It was perseverance that got us through. In the end, it was an emotional decision and there were only a few houses that we felt could really be our home.
A: This isn’t the first home that you’ve purchased. How was this process different?
M: To be honest, the main difference was it was easy!
F: We sat down with Martin and explained what we were wanting to do, we shared our financials with him and he set about finding us the best deal. He came back with some options and talked us through the pros and cons.
M: It was a very relaxed process; Martin was patient and he knew his stuff. We had lots of questions and we sliced and diced the set-up a few times; he took it all in his stride. In the end, we felt we had made an informed decision and the right decision on how to structure the loans.
A: Are you planning any renovations or making any design changes to your new home? If so, did this play a part in the purchasing process for you?
M: Absolutely, but not right away. We have lived in the house for two years now and have gotten to know how it works, how we use it, and what the architect was probably thinking back in the 50s! We have made some minor changes but our focus for major works is to be sympathetic to the mid-century style and so we are talking to architects about the next steps.
F: The facility we set up with Martin means we can draw down additional funds as we need them without going through the hassle of additional loans.
Looking to purchase a property? Aviser Finance are here to guide you through every step of your home ownership journey. Give us a call or email info@aviser.com.au to begin a discussion – let our experience guide your first steps into property ownership.