When a client’s bank couldn’t provide the necessary funding for their $800k property purchase, our finance team from Float stepped in with a tailored solution.
The Challenge
Our client faced a significant hurdle when their current bank couldn’t provide the necessary funding for an $800k property purchase. Despite their solid financial position and stable income, the bank’s restrictive lending limits and policies fell short compared to other banks’ offerings.
The Float Strategy: Comprehensive Bank Testing & Split Bank Solution
To give our client the best chance of securing the right financing, we implemented a strategy that tested the policies and offerings of all available banks. By doing so, we ensured we found the best fit for their financial situation and long-term goals.
Our tailored solution involved a split bank strategy, which included:
- Refinancing the client’s owner-occupied property and car loan with one bank. This freed up their borrowing capacity, enabling them to secure more favourable lending terms.
- Placing the new investment property loan with another main bank. This arrangement provided the necessary funding for the $800k purchase and aligned with their investment property goals.
The Outcome
Thanks to Float’s expert advice and strategic approach, we secured the optimal financing structure for our client. Not only did they gain the funds to purchase the $800k investment property, but they also benefited from competitive interest rates and a simplified refinancing process.
This solution has provided them with the flexibility to grow their property portfolio and is helping them secure their financial future in line with their long-term investment goals.
A Winning Solution for our 360 Property Management Clients
We’re proud to partner with industry leaders like 360 Property Management and A T Realty Group to deliver exceptional results for property investors. This successful refinancing and acquisition story is a prime example of how Float’s personalized strategy can help clients achieve their property investment dreams—even when traditional lenders can’t meet their needs.