- Industry leading finance solutions
- Ensuring optimal financial health
- Dr G Imberger -
- Dr M Hoar -
- Dr M Hoar -
- Dr D Rabinowitz -
- Dr D Rabinowitz -
- Dr A Malhotra -
- Dr A Malhotra -
Warren’s ability to forge strong relationships, his insatiable drive and his innovative thinking have thrust him to the top of the finance industry. Medical Finance Detective, with Warren leading the charge, promises to deliver creative solutions to clients.
Andrew is a Chartered Accountant with over 20 years’ experience in business management and corporate finance. He has over 10 years’ experience in health and medical practice management including practice financing, practice development and succession planning.
Dr Z first used Medical Finance Detective to purchase a new home and then several years later to purchase a residential investment property. Several years after that Dr Z bought a much larger family home and needed significant new borrowings to settle. Medical Finance Detective investigated multiple financing options for Dr Z including consolidating all her loan facilities with a new lender. However, in this instance the valuations and lending caps used by different banks varied and it made sense to keep existing facilities with the existing lender. Medical Finance Detective therefore only arranged for new borrowings on the new home. It is important to understand the way property valuations can effect lending options and while a competitive interest rate is typically the highest priority, it isn’t the only consideration.July 9, 2018
Mrs Y, a qualified nurse, together with her business partner started a health company providing specialist in-home medical services. A strategic review identified that the acquisition of several pharmacies would significantly strengthen the business model. Medical Finance Detective tested the market and arranged two new financing facilities. The first was a loan to finance the acquisition of two pharmacy businesses secured against residential property owned by Mrs Y. The second was an unsecured business loan to provide short term working capital for the business. It is always the case that the lowest cost finance is available when real estate security is available. But there are an increasing number of bank and non-bank lenders who are seeking to improve the unsecured funding products they can provide to small and medium enterprises (SME). Medical and health based businesses are an attractive group to these SME lenders.March 15, 2018
Dr X had several residential investment properties and commercial land on which he was planning to develop an upmarket medical centre. This warranted a review of all his financing and after testing the market, Medical Finance Detective secured a 40 basis point interest rate saving on all loans. However, because the required loan facilities were large and complicated it was determined that replacing the existing single lender with loans from 3 new banks was the optimal arrangement. Like cross-collateralisation mentioned above, using a single versus multiple lenders is a case by case determination. Typically the larger the size of the total loan, the lower the interest rate and the benefit of using a single lender. However, sometimes it makes sense to spread the total borrowed amount amongst several lenders in order to reduce the control of a single lender. This was attractive in Dr X’s case because of the higher level of complexity in his personal and business structuring and that he was aggressively geared. Given the higher risk nature of some of Dr X’s arrangements, Medical Finance Detective recommended and arranged to increase the ratio of principal and interest (P&I) loans to interest only (IO) loans held by Dr X. The interest saving obtained for Dr X was invested in this change, so that total monthly repayments were left unchanged but the risk profile of the total facility was reduced.December 20, 2017
Dr W had $9m of mortgage debt spread across 3 residential properties. He and his wife had made an offer on a new home but his bank was reluctant to provide additional funding. Medical Finance Detective quickly tested the market and found another bank that was willing to provide the required finance at a lower rate, providing Dr W agreed to a faster pay down schedule on one of the loans. The lower rate provided a saving of approximately $45,000 pa. As part of the new facility, all loans were brought across to the new bank who also agreed to separate out individual loan securities (which had previously been grouped or ‘cross-collateralised’). Cross-collateralising individual loans can provide access to a lower interest rate but it can also reduce borrower flexibility and equity release when one of the secured properties is sold. This funding aspect needs to be managed on a case by case basis. Medical Finance Detective carried out a loan review for Dr W a year later and secured a further interest rate saving at this time. It is important that these reviews are regularly carried out so clients can benefit from improvements in market conditions.October 6, 2017
[MFD] has done a fabulous job for me – beyond getting extremely good deals/structures organised, a pleasure to work with and makes everything very easy.
Dr G Imberger
I was referred to Finance detective by a friend in the real estate industry, and found them to be very helpful, personable and knowledgeable of my finance needs as a doctor and what packages were available from various lenders. During a 6 month process [MFD] helped me re-structure some of my loans in such a way that I was able to more effectively use my existing equity. They were very patient in explaining how they thought we could best proceed, and flexible when the property purchasing strategy changed from what was originally planned. [MFD] successfully negotiated with the bank to accommodate a structure that was different to what was pre-approved and a bit outside the norm.
I wouldn’t hesitate to recommend their services to anyone seeking finance, including other medical professionals.
Dr M Hoar
Finance Detective have helped me secure excellent mortgage rates on several occasions and have consistently demonstrated that they are leaders in their field. As a doctor, it is important for me to feel that my financial circumstances are understood and to know that the advice that I’ve been given is in my best interests. The team at Finance Detective have always shown acute understanding of my needs and their efforts to obtain the best outcomes for my personal and investment loans is commendable. They have always approached my questions and concerns with respect, knowledge and the highest professionalism. I am pleased to recommend their services and look forward to continuing as their client for future investment needs.
Dr Dean Rabinowitz
I have been a client of Finance Detective for over 7 years. My husband and extended family have been their client for much longer. Over that time Finance Detective has assisted me in my financial ventures with excellent service. They are never too busy to answer my queries and handle all matters in a professional approach with prompt resolution consistently. From my experience their ability to work in a team and ensure that all members are across all the details of my account never ceases to impress me. I highly recommend Finance Detective to people who appreciated being treated like a person rather then a number.
Dr Aakanksha Malhotra
For many, owning your own home is still the definition of the great Australian dream. We crave the security, desire the lifestyle and long for the freedom that comes with home ownership. But applying for a loan isn’t always easy. There are plenty of hoops to jump through, and organising a bank valuation is just…
Do you want to get started with property investment? Before you climb onto property investment ladder, make sure you read our 8 tips on getting started with property investment. Even if you don't own the home you live in, an investment property could be the right first step on the property ladder. If you want…
What investment strategy is right for you? Some investment properties may have a high income return while others may have low income with the potential to generate a high capital return. It is always important to consider the total return from your investment when making an investment decision. If you want to know more... Click…
You may be able to use the equity you have built up in one property to purchase an additional property... This means that you could expand your property portfolio, using the equity you already have in your home! However, there are several things to keep in mind, like avoiding LMI and how to go about…
After the end of June 2017, the First Home Owners’ Grant grant drops from $15,000 to $10,000! This might sound like a blow to all the first homebuyers struggling to break into the market, but it’s not all bad news. While the First Home Owners’ Grant will be lower than previously, the government has also…
Is your credit card debt spiralling out of control? Are you struggling to cope with multiple credit card repayments? Don’t worry, you’re not alone. Around 70% of Australians have credit cards, that’s more than 16 million credit cards throughout the country. Many Australians would like to gain more control of their current debt and debt…
Dreaming of a better house for your family but can’t face the prospect of moving. You are not alone. Quality renovations undertaken on your home can bring a new lease of life to your property, as well as adding thousands of dollars to its value. It makes financial sense to invest in your property and…
There are many reasons why Australians do and don't invest in property... Around 20% of Australians invest in property for: Potential capital growth Rental income Tax benefits There are other reasons too, but most people don't realise that an investment property could make them money and even pay for itself. If you want to know…
In 2003 it became mandatory for financial institutions to display comparison rates when advertising loans. Why? - The government could see a trend developing. Lenders were advertising loans with low interest rates, yet on closer inspection, the extra bank fees and charges affected the loan’s overall cost. It was becoming too hard for borrowers to…
You may have heard us speak about Lenders Mortgage Insurance in previous articles, but a few things have changed with LMI since then. It's designed to protect the lender in the case that the borrower (you) cannot meet repayments. However, due to the current market, you may need less of a deposit to avoid paying…
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