Client Case Study: Home Loan Refinance to Payout Debts, Clear ATO Tax Debt and Improve Cashflow
For many households, financial strain doesn’t come from poor choices—but from unexpected changes in income or situation. That was the case for a professional couple who came to WhiteStar with a clear goal: Refinance the Mortgage to payout Debts including a large ATO Tax Debt to simplify their finances. Get back on top of things.
Here’s what they were managing each month:
$5,200 on their existing ANZ mortgage
$3,250 toward an ATO tax debt
$733 and $741 on two separate business loans
$2,000 for a car lease
A couple of smaller credit cards with ongoing repayments
Total monthly repayments: Over $11,900 (excluding living costs)
Although they were managing to keep up, the pressure was mounting. They also wanted to access a small amount of equity for home improvements but weren’t sure how to structure everything into one manageable plan.
How the Financial Pressure Began
A while ago one of the applicants income took a major hit when they lost income from one of his main clients during the COVID period. With little warning and limited client diversity at the time, this reduction in work created a cash flow gap they couldn’t immediately recover from.
Over time, he rebuilt his client base and income returned to normal levels. However, the experience left them cautious—holding onto savings for emergencies and hesitating to pay down debts without a clear long-term plan in place.
A Consolidated Solution That Made Sense
Maria and WhiteStar pulled the situation apart and presented the scenario as best they could to get the new home loan rate as low as possible. The goal wasn’t just to assist with a simple Home Loan Refinance—it was to clear the ATO debt, pay out the business loans and remaining credit card balances, and provide a small buffer for minor renovations.
The solution consolidated everything into one streamlined home loan with a total repayment of $6,480 per month. That’s a significant reduction from the ~$9,924 they were previously managing.
Before & After Snapshot:
✅ Before: $5,200 mortgage + $3,250 ATO + $1,474 in business loans = $9,924 p/month
✅ After: New combined repayment of $6,480 per month
✅ Monthly Savings: $3,444 per month
✅ Improved cash flow, reduced stress, and a plan to move forward with confidence
Why a Tailored Refinance Matters
Despite a temporary credit history impact from the income drop, these clients had a strong story and stable income going forward. With the right lender and supporting documentation—including financial statements, BAS statements, and credit reports—we were able to present a case that showed their true position.
This refinance wasn’t about starting over—it was about making their existing commitments more manageable so they could breathe again.
At WhiteStar, we look at the full picture, not just the numbers on a screen. We advocate for our clients, especially those who’ve been through a rough patch but are ready to reset and rebuild.
WhiteStar Finance & Conveyancing takes a long-term approach, focusing on repeat clients and referrals. If we can’t find a meaningful benefit for you in refinancing, we’ll tell you exactly why—and check in when the timing is right.
The Right Support Makes All the Difference
A mortgage review could save you thousands and in some cases help protect your credit score and avoid arrears.. If you haven’t had yours checked recently, now is the time! Contact a WhiteStar Mortgage Broker today.
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