Mortgage loan broker for your next home loan
Looking to buy your next home or renovate your dream one? Make the move to your next home with a mortgage broker by your side.
The next home loan process
From bridging loans to general moving tips; here’s a breakdown of how we will help you buy your next home.
- Say hello
It all starts with taking about one minute to answer a few simple questions right here. Once you’re done, we’ll meet to discuss your goals, financial position and what approach you can take while moving homes, in person or online. - Your goals
Once we know what you need, we’ll research over 60 banks and lenders to find you a competitive rate. We’ll even provide a written recommendation on the loans that fit your needs, just for you. - The nitty gritty
Paperwork is our job. Once you’ve chosen the lender, we’ll work with them to package, sign and lodge documents to get you ready for pre-approval. - Formal approval
Moving is painful enough, so once you’re approved, we'll make the transition from your current loan to new loan as pain free as possible. A valuation will then take place on your new home, insurance details provided and a settlement day will be scheduled. - Settlement
In this final stage, we’ll coordinate the lead-up to settlement where the funds from your new home are used to pay off your current loan. We’ll liaise with your existing and new bank and if you’re borrowing any extra cash, it will be ready to go. A solicitor or conveyancer is still involved here to change the lender name on your paperwork. - Moving without the hassle
Thought of moving already stressing you out? Fear not. When the big day (or days!) come we can organise for a trusted team of experts to be at your side to take care of it for you. We also have partners who can help get your connections set up too, so you can sit back and take in the new view.
Loan types and features
There are a number of loan types available to you; variable rates, fixed rates, guarantor loans and more, scroll through some of the options to get a better understanding of what the differences are. We’re here to answer your questions when you’re ready.
Variable rate loan
As the name suggests, the interest rate can change over the life of the loan. This gives you flexibility, but can also leave you open to rate rises. These loans offer more flexible features like unlimited additional repayments, redraw, and offset accounts.
Fixed rate loan
Basically, this is the opposite of a variable rate loan. Your interest rate and repayments will stay the same during the fixed term, no matter what. So no surprises.
Split loan
You’re able to fix part of your loan, while leaving the rest variable.
Packaged loan
Professional packages offer discounts on standard variable and fixed rates, the waiving of fees, and in some cases, great deals on other products from the same lender. A packaged loan usually comes with one annual fee for the bundled products.
Introductory rate loan
Also known as ‘honeymoon’ loans, these offer a low interest rate for a short period (eg. a year), after which the rate moves to the standard variable rate.
Interest only loans
As the name suggests, you only pay the interest on the principal balance for a set term, with the principal balance unchanged.
Guarantor Home Loans
A guarantor uses the equity they’ve built up in an existing property to help you purchase your property sooner. Guarantors could be your parents, parent-in-law or a step parent or grandparents.
Calculators
In the realm of financial empowerment and planning, knowledge is your greatest ally. Use these calculators to get an idea of how much you can borrow and how much your repayments might be.
FAQs for next home loans.
We’ve got your questions covered.
What happens to my mortgage when I move house?
Generally you have two options for switching your current loan. You can either refinance with the same lender (or a new lender) or pay out the existing loan and take out a new one with your new property. We can help you determine what you can afford and which option may be right for you.
How does a bridging loan work?
A bridging loan helps you purchase a new home whilst you wait for a buyer to purchase your current one. The loan works by covering the cost of your new property with the idea that this debt will be paid off when your old property sells.
What is the difference between a fixed rate vs a variable rate?
Typically, variable rate home loans offer flexibility whilst fixed rate loans offer predictability. Get in touch with me today and I can help explain how each could benefit you.
