Special Tips for Your Next Endeavour

There may be several options available to you when you are ready to buy your next home. As your trusted broker we can give you the right advice so that you can make best use of your time and money. In general some or all of the below options may be available to you for consideration:

Top up your existing loan

If it has been some time since you bought your current property there is high chance that it’s value has appreciated. In that case you will be eligible to increase your current loan from the same lender which you could then use to pay for your next property.

Bridging loan

You can get a bridging loan for short terms like six to twelve months. This type of loan can be used to fund the deposit of your next property and once you have sold your existing home you have to repay the balance. Even though the bridging loan rates are on the higher side but they serve an important purpose – allowing additional time to get the best possible price for your current home.

Deposit Bond

A deposit bond is another financial instrument offered by lenders which you can use instead of cash deposit to secure your next home. Deposit bonds in most cases can be cheaper than bridging loans and can help you secure a property which you really like.

Refinancing existing mortgage loan

Refinancing is another option when you are considering buying your next property. This involves taking out a new loan from a new lender to pay off your current loan and use surplus equity towards your new purchase. In many cases, refinancing can also give you better rates with better options. Talk with us today to know which option will suite you best.

Loan Portability

Loan portability is another option to consider when you are thinking about buying your next home. If your current loan has this feature then you will be able to transfer the same loan to your next property which might save you some costs related with refinancing. The added benefits are that you will be dealing with the same lender and the account details will remain same.

Speak With Us

We will do an obligation free analysis of your current asset position and advise you regarding the loan options that you have for your next home. Talk with us today to make the best use of your assets.