How I helped my clients with farm finance to purchase a property and save $27,000 per year.
Prior to engaging me, my clients approached their current bank to put in an application to purchase land not far from their current property. They didn’t have any debt, just a small overdraft, but thought, as there was already an existing relationship, their current lender would offer the most competitive rates. They had not received any feedback after a couple of weeks and gave me a call to see if I could assist.
We withdrew the application with their existing bank and I put a finance discussion paper together and distributed to two other lenders and again to their current bank with a request for feedback within one week.
We got the pricing back from each lender within the week. Their existing bank had the highest all-up-rate which was 0.84% above the lowest rate and equated to a saving of $27,000 per annum.