Any property purchase is a big step, even if you have done it before. If you add juggling the sale of an existing property into the mix, it can become a delicate logistical balancing act. You may need to consider bridging finance or a temporary borrowing structure in order to enable you to settle on your new home before you’ve sold your old one.
At Beyond Home Loans, we offer you guidance and expertise to help you navigate your way through all facets of the process, and find the loan solution that will work for you.
Having access to the right information about how to structure your loans (for both your new purchase and your existing home) is especially important when rental properties are involved. In Australia, interest on a loan against a rental property is generally tax-deductible, so your loan arrangements should maximize this for you. You also need to protect your new home from any risk associated with owning an investment property.
At Beyond Home Loans we understand these complexities and seek the most appropriate outcome for you.
One of the first steps you should take is to assess how you will finance the property. Without knowing how much you can spend, how much equity you have to access from existing property, and how to manage the transition process, you can’t commit confidently to a new purchase.
This is where talking to a broker (Beyond Home Loans) is essential. We can get you a pre-approval for a new loan so that you have peace of mind when house-hunting, assess your existing loan structure for its appropriateness, and help you through all other aspects of the process. Most importantly, we can help you avoid mistakes that will cost you money over time.
When you are purchasing a property to owner-occupy, you might be eligible for a discount on your stamp duty costs. These vary from state to state, so you should contact us to find out what applies to your situation.
Frequently asked questions