Our client is 62 years old who has dedicated his life to child protection work. He is self-employed and has Australian superannuation and an ongoing foreign source pension.
The couple reached out seeking to sell the investment property and purchase their forever home for retirement. The purchase price target is $950,000.
We presented an exit strategy plan involving the sale of the client’s current investment property, and retaining sufficient sales proceeds in addition to his superannuation. This is so that the lender would consider a 30 year loan term (as the client had the ability to clear the loan at anytime).
In the end, the client achieved a pre-approval for a $950,000 purchase price, although he subsequently found a property which was slightly under, at $865,000.
This was achieved with on time settlement within a 3 week timeframe.
