Sydney advertising executive Chris explains why he got a Midkey

It’s official – our first Midkey home loan is out the door!

A Mosman father of five is our first official borrower taking a $500,000 loan as a 2nd mortgage on his family home of 16 years, in Mosman on Sydney’s Lower North Shore. Chris, a successful media agency owner, and his wife placed a high priority on their children’s private school education, and with the cost of living and rising interest rates taking a toll, they knew they had to look at other options.

Chris applied for more debt from his existing home loan provider, but he was knocked back. Even if it had been approved, his monthly payments would have increased and caused more financial stress.

“I kept thinking that logically I should be able to leverage the value I have built in my home and not have to sell the house to access it”. He said when he met the Midkey team, it was like a meeting of minds.

“Midkey is a much-needed no-brainer for us. Midkey showed us how we could reduce our monthly payments overall on our existing mortgage, by 10%. We did this by placing the cash from our Midkey into our offset account with our existing mortgage and we will draw on it over time to fund our school fees”, said Chris.

Chris will pay back the Midkey principal loan, the accumulated simple interest, and a Midkey Deferral Fee later in life.

Click here to read more or watch the video below.

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