Syed refinanced to get a better rate

Syed Hasan was looking to refinance his home loan. He’d used a mortgage broker to secure a loan a couple of years ago, after he and his family moved to Sydney from London. But now he wanted a better deal.

Syed Hasan was looking to refinance his home loan. He’d used a mortgage broker to secure a loan a couple of years ago, after he and his family moved to Sydney from London. But now he wanted a better deal. Firstly, he was keen to unlock some of the growing equity in his property, a family home in Baulkham Hills, in Sydney’s north-west. Secondly, the finance professional wanted more favourable mortgage terms. “I bought the property in April 2015 and wanted to use the growing equity to possibly invest,” says Syed, who has three kids under six. “I also wanted to get a better interest rate.”

The joys of refinancing

Refinancing remains an attractive option for homeowners looking to improve their debt levels and have greater financial flexibility. This is particularly true in Australia’s largest property markets, where property values have grown substantially in recent years. How much can I save by refinancing? Use UNO's calculator to estimate your savings. Calculate Savings Citing data from the Australian Bureau of Statistics, academic Ben Phillips says Sydney house prices grew 70% in the five years to December 2016. Melbourne house prices grew by 40% over the same period. This means that many Australians own a greater proportion of their properties than ever before – and this equity might be used to go towards purchases or other investments. While recent uncertainty over the direction of real estate markets make it difficult to accurately assess property values (and equity levels), fixed and variable interest rates remain at close to historical lows. New home loan deals continue to come onto the market every week that may offer mortgage holders better options. Syed thought he was an ideal situation to get a better mortgage deal. The institutional lending expert works in a stable industry that offers employees good wages and healthy bonuses. He also changed employers after moving to Australia and was now working at a major housing lender – one of Australia’s four big banks.

“What struck me most was the speed with which they were able to answer my queries. I said, ‘here is my situation’ and three hours later I had a document with my options … Simple as that.”

Finding UNO

Syed asked his current lender to help refinance his loan, but the amount of equity top-up and offered interest rates were not to his liking. Disappointed with his lender’s initial response, Syed turned to UNO home loans. “I filled in the online forms and to my surprise I received a phone call from the CEO [Vincent Turner],” Syed says. “That doesn’t happen, right? That was my first pleasant surprise with UNO.” UNO was able to help Syed assess his options. After UNO’s Carlo Monzo did an in-depth review of his situation and suggested deals that looked quite promising, Syed decided to wait until he had received his annual bonus to see if this could improve his borrowing power. Showing that he was in a better financial position made it easier for Syed to command a better loan deal. “At this point, Carlo put me in touch with [UNO mortgage coach] Phillip Jiang, who was amazing,” Syed says. “He said he would find the best option for me. I had many questions but Phillip was able to answer all of them.” As it turned out, the best offer from UNO provided Syed a higher equity top-up and significant annual savings from lower interest rates compared with his former lender. Syed says he was pleased to go through the refinancing experience with UNO, instead of trying to manage the process himself or entrust a broker once again. “There are numerous brokers out there who are doing the same job, but UNO is great,” Syed says. “From a customer perspective, what struck me most was the speed with which they were able to answer my queries and give me options. I said, ‘here is my situation’ and three hours later I had a document with my options, followed-up with a call for a detailed walk through of every aspect of the offer. Simple as that. It was trusted advice.” Need a home loan? UNO. The new way to get a better deal. Get StartedBook in a quick call with our customer care team

Book Call Now

UNO home loans

Need help with your home loan?

UNO Brokers are available night and day for a quick review or your situation and bring expertise that will support better decision making that will save you time and money. Book in a quick call when it suits your busy schedule

Get Started
Try Plans, by UNO
Mortgage calculators completely reimagined
Get Started

Related Articles

TESTIMONIALS

What our customers are saying

Kyle Richards
October 10, 2024
Absolute legend, helped me through the first home buyers scheme, explained everything in a way that made sense, was very knowledgeable and a joy to work with.
Read more
Chloe S
October 8, 2024
Mike Parsons made it possible for us and the in laws to get 2 pretty complicated home loans. He helped us through everything and we'd be happy to use Mike and the team again for anything we needed. Thanks again!
Read more
Sam Rezai
October 2, 2024
I have gone through 6 different mortgage brokers prior to meeting Andrew Wyers. He is the most patient mortgage broker I’ve encountered and also the most knowledgable about the bank’s lending process and products available. It took me 1 year to find a house I was happy with and Andrew was always there to assist with any issues or questions I had; he always return my phone call, even on the weekends or when his away on holidays. The loan process was smooth and I had no complications. The process with Andrew was again nice and easy, he took the time to find and put together the right package that was suited to my situation. I have recommended Andrew to my family & friends and everyone have been grateful and completely satisfied with his service.
Read more
S Wilko
September 23, 2024
I had not dealt with Scott or UNO before finding them on the internet. Even as an Australian citizen living and working overseas, I knew obtaining a loan would be difficult. However, Scott went above and beyond what I expected from a mortgage broker. I genuinely don’t think you could find another company that works as hard as they did to get my home loan approved. I cannot recommend them highly enough. Everyone I dealt with at UNO were extremely professional and helpful. If you are looking for a broker, you would be mad not to give them a go. Thanks to Scott Wilkinson, Dalby Bajwa, Jena Lasquite and Andrew Pacini. Shaun.
Read more
Shan Liao
September 3, 2024
I had an outstanding experience with Tian Liu. He was incredibly professional and attentive, going above and beyond to meet my needs. His expertise and dedication made the entire process smooth and stress-free. Tian's deep knowledge of the market and commitment to finding the best solutions for his clients truly sets him apart. He was always available to answer my questions and provided invaluable guidance throughout. I highly recommend Tian Liu to anyone in need of a reliable and skilled broker!"
Read more
Nathanael Chin
September 3, 2024
Tian Liu provided exceptional service throughout the entire process. His professionalism and keen attention to detail were evident from the start. Tian consistently kept us informed and offered insightful advice that made us feel confident in our decisions. He truly cares about his clients and works tirelessly to ensure the best possible outcome. We couldn't be happier with his assistance and highly recommend Tian to anyone looking for a trustworthy and knowledgeable broker.
Read more
Patrick Winters
August 14, 2024
For the past three years, it has been an absolute pleasure to work with Mike Parsons. He has consistently helped us navigate commercial property loans with skill and efficiency. Mike’s timely and professional responses to our inquiries have been invaluable. We have built a strong, reliable relationship with him and eagerly anticipate continuing our collaboration in the future. We highly recommend his services.
Read more
Lee Robibaro
August 6, 2024
I am so thankful and grateful to have Scott Wilkinson as my broker. He not only looked after me every step from start to finish he gave me confidence and I was able to trust him and his expertise. My children and I are now happy in our new home and very appreciative of Scott's help. I will definitely be only having Scott as my broker from here onward as there is no mucking around and straightforward answers. Thanks again
Read more
Steve Mav
August 6, 2024
Scott and the whole team at uno have been amazing. Super responsive and helped us achieve a result that we couldn’t have possibly achieved on our own.
Read more
Thien Pham
August 5, 2024
Scott, Dalby and Jena were awesome to work with for my recent Home Loan, they are responsive and knowledgeable - which helped ensure a smooth purchase from pre-approvals to settlement. This is the second property I've purchased with UNO as my mortgage broker and would definitely recommend their services. Thanks again to the UNO Team for the awesome support.
Read more
Scott Hutchinson
August 5, 2024
I am writing this summary in support of recommending Mike Parsons as a Mortgage Broker. At the time of writing this, I have known Mike for 4 years and he has executed 4 mortgages deals for me (including 2 refinances) over that time. Mike has provided me incredible service as a mortgage broker as follows : - Works painstakingly on getting the scenarios together to provide you options that optimize your position. - Works inordinate hours on the detail necessary to support the scenarios. - Mike keeps you updated on the status and progress of the applications and also helps you work through answering questions and any complexities that may arise. -In my cases, given the complexities and timings of my situations , these application processes would take many weeks to finalize . Mike never gave anything other than utter commitment and focus to getting the job done. Mike acts as a true business partner throughout this whole broker /mortgage journey. I simply would only go to Mike for any future dealings on getting a loan from a bank (and as will my kids in the future !) . There is no way a bank (I have seen anyway) would provide this kind of time nor service to a customer. You can rest assured that once Mike has done the deal, you have ended up with the most optimized position taking into account all the variables/scenarios in play. Scott Hutchinson
Read more
Jason Seam
August 5, 2024
I've worked with Scott Wilkinson for my last 2 properties and he's been excellent. He sourced multiple options and didn't push a specific bank, tailoring his recommendations to me based on my requirements. I was specifically requesting a "medico loan" and Scott could navigate that extra requirement with expertise. When I was initially working with Scott, I was also trialling 2 other brokers and neither of those 2 had the same breadth of lenders, or could provide the same deals. I've referred multiple buyers to Scott and his team; one of them said to me after working with him, "how'd you find this guy, he's so good compared to all the other broker's I've worked with!" I'm going into my next purchase with Scott as my broker partner again. I recommend him to everyone
Read more

Try Plans by UNO

Mortgage calculators completely reimagined
Get Started