Mortgages Made Easy
Illawarra Mercury
Wednesday November 26, 2003
IF YOU are looking for a home loan with lower rates, where you will deal with only one person and where confirmation in most cases takes less than 24 hours, then Resi Mortgage Corporation could be for you.
Franchisee Xenia Drewry, whose area covers from south of Sydney to the Victorian border, was the first in Australia to be granted a franchise when they became available in 2000.
She remains one of only two women running franchises out of the 70 in the country, 50 of them in NSW.
``Resi is different from brokers and other mortgage companies in many ways," she said.
``Clients deal with the professional consultant assigned to them and that person deals directly with the lender.
``If we have all the necessary paperwork and everything is in order, at the time of the first meeting we can give clients written confirmation of the loan and have the stamped authority from the lender back within 24 hours, and much more quickly if the matter is urgent.
``We are one of the cheapest, we have our own wholesale funds source, we have developed products for self-employed businesspeople who traditionally may find it difficult to obtain a loan, we do a lot of refinancing and we are an ideal company for first-home buyers."
Mrs Drewry said all loans offered were for a 30-year term but, of course, could be paid off more quickly if the client wished.
She said for example on a $150,000 loan, principal plus interest repayments with Resi would be $884 per month and with another company $906 per month.
``However, to take advantage of the benefits of Resi, clients have to meet certain criteria and we do have to refuse some people because the last thing a lender wants is to have to re-possess someone's home."
Mrs Drewry said she welcomed potential home owners to check Resi products before making their final decisions.
© 2003 Illawarra Mercury
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