Client Case Study
Time to Move Forward – A Fresh Start
“Our job is to show you what’s possible.
Your job is to decide what’s right for you.”
Sometimes refinancing isn’t about securing a lower interest rate. It’s about finding the right solution to move forward when life changes
Going through a separation is never easy, particularly when finances and the family home are involved.
For one mum, moving forward meant refinancing the family home into her own name, paying out her former partner and consolidating existing debts so she could start afresh.
The Challenge
Her existing home loan was already on a competitive interest rate. However, she was also managing credit card debt, a substantial personal loan and a car loan — all on one income.
Combined repayments were approximately $5,135 per month, making it difficult to manage financially, let alone find the additional funds needed for the property settlement.
Adding to the challenge was a less-than-ideal credit score, affected by previous credit enquiries, and the need to borrow additional funds.
Finding the Right Solution
Our Senior Broker, Kelly, explored several lending options, initially hoping to secure a more competitive interest rate.
However, it became clear that the solution wasn’t simply about finding a cheaper loan. We needed a lender willing to look beyond the credit score and consider the overall circumstances.
The lender we identified offered a slightly higher interest rate than her existing mortgage, but importantly, allowed the debts to be consolidated and the additional funds needed for the property settlement to be included.
The Outcome – A Fresh Start
By restructuring her finances into one home loan, the difference to her monthly cash flow was significant
| Before refinancing | After refinancing |
|---|---|
| $5,135 per month | Approx. $3,200 per month |
| Mortgage plus multiple debts | One home loan repayment |
That’s approximately $1,935 per month freed up — more than $23,000 a year in improved cash flow..
Most importantly, she could move forward with the home in her own name and a financial arrangement better suited to managing life on one income.
A Better Outcome Isn’t Always a Lower Rate
Not every borrower qualifies for every lender or their lowest advertised interest rate.
Sometimes a slightly higher rate can still deliver a meaningful benefit when debts are restructured and repayments become more manageable.
Of course, consolidating debts into a home loan can extend repayment terms and increase total interest costs, so the overall benefits and longer-term implications need to be carefully considered.
For this client, the immediate priority was finding a workable solution during a major life change.
And as her circumstances improve, Kelly can review the loan again to see whether a more competitive option becomes available.
What Did Our Clients Say?
Following the successful refinance, a lovely message to say
“Thank you again for all your help!
You and Kelly were absolute life savers and you have actually helped the children and I begin our lives all over again! “
Could your Home Loan Benefit from a Review?
Whether you’re navigating a separation, managing multiple debts or simply looking for a better financial setup, our team can help you explore what’s possible.
Sometimes the right solution isn’t the one with the lowest rate — it’s the one that helps you move forward.
Chat with a WhiteStar Mortgage Broker today.
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Unlike going directly to a bank, we compare multiple lenders and tailor a solution to suit you.
With over 30 years’ experience, we specialise in both straightforward and more complex scenarios — often finding solutions where others can’t.
As mortgage brokers, we’re also bound by Best Interests Duty, meaning we’re legally required to act in your best interests — not the lender’s.
We can review your options (including your credit file) without leaving multiple enquiry marks that may impact your score, so you can explore what’s possible with confidence.
With strong reviews, real client results, and conveyancing support in Victoria, we’re here to guide you from start to finish.
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Poor credit generally refers to your overall credit history, including missed repayments, defaults or high levels of debt.
Your credit score is a number that reflects this history at a point in time. While your credit score is important, lenders also look at the bigger picture — including your income, expenses and ability to repay.
This means some borrowers may still be eligible for home loan if their credit score is lower. Lenders have different criteria, it about knowing who will help with a bad credit score and also who will help with bad credit like defaults and arrears.
If you’re self-employed and having trouble proving your income, it’s still worth exploring your options with a mortgage broker before applying. Many lenders assess income differently, and some offer alternative income options with more flexible documentation requirements.
Rather than applying directly and risking a decline, it’s best to speak with a broker first. At WhiteStar, we’ll guide you on what paperwork may be accepted by different lenders and help you understand your options before you apply. If you are about to lodge your tax returns, it can be a good idea to wait and speak to a broker before they are lodged.
Self Employed Home Loan Case Study
Not always. Commonly lower dealership rates can be offset by a higher vehicle price or extras built into the deal — meaning you could still end up paying more overall.
A smart approach is to first negotiate the best price for the car without finance attached, then compare finance options separately.
Chat with the team at WhiteStar Finance & Conveyancing before signing anything — we can help you compare the real overall cost, not just the advertised rate.
Nearly 77% of home loans in Australia are arranged through mortgage brokers — because they offer a wider, more tailored range of options.
A broker compares multiple lenders (not just one bank), helping you find the right fit — especially if you have a poor credit score or need bad credit options.
We also follow Best Interests Duty (BID), meaning we must act in your best interests, and we can assess your options without leaving multiple credit enquiries on your file, which can impact your score.
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Dealership finance is arranged directly through the car dealer, usually with a limited panel of lenders.
A car finance broker, like the team at WhiteStar Finance & Conveyancing, works with multiple lenders to compare options and help find a solution suited to your circumstances.
Yes — many people use equity in their home as a deposit, meaning you may not need cash savings.
Rental income can help with repayments, and there may be tax benefits, but it’s important to ensure the strategy suits your situation and risk comfort.
Lenders assess investment income and expenses differently, which can impact borrowing capacity — so working with a broker helps ensure the loan is structured correctly for you.
You’ll still need to service the loan based on your income and commitments.
Yes — depending on your situation, it may be possible to refinance or obtain finance to help clear ATO debt.
This can sometimes improve cash flow, simplify repayments, or help a business move forward with more certainty.
Options may include:
- Refinancing existing loans
- Debt consolidation
- Business or commercial lending
- Asset-backed finance
- Specialist lending solutions
Not all lenders will accept ATO debt or payment arrangements, however some lenders are more flexible than others depending on the strength of the overall application.
The sooner you seek advice, the more options you may have available.
Chat with the team at WhiteStar Finance & Conveyancing to explore your options.
Many Australians use an SMSF to gain more control and transparency over their super, including the ability to invest directly in property as part of a long-term strategy.
However, SMSF property lending is highly regulated. You generally need:
- sufficient super balance (often $200k–$300k+ as a guide)
- the ability to service the loan rent and contributions (your income and contributions still matter)
- the correct SMSF and bare trust structure set up before purchase
Not everyone will qualify, and lending options are more limited than standard home loans.
It’s important to speak with a broker early to confirm eligibility before spending money on advice or setup, as getting the structure or timing wrong can be costly.
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SMSF loans are structured differently to standard home loans. The property is typically held in a separate (bare) trust, and lending options are more limited.
Buying a property inside an SMSF can be a smart strategy — but only when the structure, lending, compliance and long-term planning are done correctly.
If you’d like help checking borrowing capacity the team at WhiteStar Finance & Conveyancing can guide you on the process and finance criteria & eligibility, however we cannot offer legal and financial advice as to whether a SMSF or Purchasing in your SMSF is suitable for your individual circumstances.
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