Next Home & Upgrader Loans

Ready to upgrade, downsize, or find your next home on the beautiful Gold Coast? This journey is different from your first. It's about leveraging your existing equity smartly to secure your next property. At Max Rich, we specialise in structuring finance for existing homeowners, ensuring a smooth and stress-free transition.

Your Next Home Loan on the Gold Coast

Navigating the Gold Coast's dynamic property market while selling your current home presents a unique set of challenges. You need a clear strategy for unlocking the equity you've built, timing your sale and purchase perfectly, and potentially managing finance for two properties at once. We're here to take the complexity out of the equation. By assessing your financial position and comparing over 60 lenders, we'll design a tailored loan solution that aligns with your goals, whether you're upsizing in Robina, downsizing in Burleigh Heads, or buying an investment in Southport.

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Our 6-Step Strategy for Your Next Property

We've refined our process to manage the specific needs of selling one home while buying another. Here’s how we make it happen.

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1

Equity & Strategy Session

‍We start by assessing the equity in your current property and your future borrowing capacity. We'll discuss your goals and timelines to build a clear financial strategy for your next move.

2

Tailored Loan Structuring

‍We explore the best way to structure your finance. This could involve bridging loans, making offers subject to the sale of your home, or other specialised solutions. We'll find the right fit from over 60 lenders.

3

Securing Your Buying Power

‍With a strategy in place, we secure a pre-approval for your next purchase. This puts you in a strong negotiating position and allows you to search for your next Gold Coast home with confidence.

4

Coordinating Your Sale & Purchase

‍This is where our expertise shines. We work with you, your real estate agent, and your conveyancer to align the timelines for the sale of your current home and the purchase of your new one.

5

From Offer to Unconditional

Once you've found your next home and made an offer, we manage the formal loan application process. We handle the paperwork and lender communications to move your finance to unconditional approval.

6

Coordinated Double Settlement

‍The big day involves two settlements. We coordinate with all parties to ensure a seamless transition, helping you move out of your old home and into your new one without a hitch.

Explore your loan options & their features.

For your next home loan, features like bridging finance, offset accounts, and loan portability become incredibly important. Bridging finance can cover the gap between buying and selling, while a multi-offset account can help you manage your funds effectively. We'll explain all the available options to ensure your loan structure provides the flexibility and power you need.

Variable rate loan

A Variable Rate Loan is a home loan where the interest rate can move up or down according to market conditions. Its greatest strength is flexibility.

Fixed rate loan

A Fixed Rate Loan locks in your interest rate for a set term, typically from 1 to 5 years. This means your repayment amount will not change for the entire fixed period, regardless of what happens in the market.

Split Loan

A Split Loan offers the best of both worlds by allowing you to divide your total home loan balance between two parts: one with a fixed interest rate and the other with a variable interest rate.

Packaged Loan

A Packaged Loan (or Professional Package) bundles multiple financial products, like your home loan, a credit card, and a transaction account, for a single annual fee.

Bridging Loan

A Bridging Loan is a short-term finance solution that "bridges" the gap between buying your new home and selling your old one. It gives you the power to purchase your dream home on the Gold Coast without the pressure of having to sell your current property first.

Line of Credit Loans

A Line of Credit (or Home Equity Loan) is a flexible funding solution secured against the equity in your property. It provides a pre-approved credit limit that you can draw on, repay, and redraw as often as you like, only paying interest on the funds you're using.

Interest Only Loans

An Interest Only loan is a strategic tool where your repayments only cover the interest on the loan for a set period (typically 1-5 years). This results in lower initial repayments, which is ideal for property investors looking to maximise their cash flow and tax deductions.

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Construction Loans

A Construction Loan is a specialised loan designed for building a new home on the Gold Coast. Instead of a lump sum, funds are released in stages (known as progressive drawdowns) to pay your builder as they complete key milestones.

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Helpful calculators.

Explore your financial possibilities and understand potential costs with these handy calculators.

Borrowing Calculator

Use the calculator to find out how much you could borrow.

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Budget Planner Calculator

Use this budget planner to help understand your income and expenses, and where you could make savings.

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Extra Mortgage Repayments Calculator

You could potentially save thousands of dollars and take years off your loan by making extra repayments. Let’s run the numbers.

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Honeymoon Rate Loan Calculator

A honeymoon loan can help reduce your monthly repayments for a set term. Use this calculator to compare what your repayments would be compared to a variable loan.

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Income Tax Calculator

The income tax calculator can be used to calculate your net income.

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Loan Comparison Calculator

Different loans have different fees, features and repayment options. Use our loan calculator to see how the numbers stack up between two loans.

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Loan Repayment Calculator

Use this repayment calculator to understand how much your loan repayments might be.

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Lump Sum Repayment Calculator

This home loan repayment calculator helps you calculate the savings benefits of making additional lump sum repayments on your home loan.

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Mortgage Offset Calculator

Use the calculator to see how quickly you could pay off your loan with an offset account.

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Savings Planner Calculator

Use the calculator to find out how much you could save.

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Stamp Duty Calculator

Find out how much budget you need to set aside to cover Stamp Duty costs and what the requirements are in your state or territory.

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Frequently asked questions.

View our full FAQs
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Can you help me figure out my borrowing capacity?

Absolutely. Your borrowing capacity is a calculation of how much a lender will loan you based on your income, debts, and living expenses. While online calculators offer a rough estimate, we provide a far more accurate and reliable assessment. We will analyse your financial situation to give you a clear budget and help you secure a formal pre-approval, which is the green light you need to search for property with real confidence.

How does a bridging loan work?

A bridging loan is a short-term loan that covers the financial gap when you buy a new property before selling your existing one. It allows you to use the equity in your current home to secure your next one. Once your old home is sold, the proceeds are used to pay down the bridging loan, leaving you with just the final mortgage on your new home.

How does a mortgage work?

A mortgage works by allowing a borrower to take out a loan to buy a home, which they then repay over time with interest. The lender provides the funds, and in return, the borrower agrees to pay back the loan amount plus interest over a specified period.

Monthly Payments

Monthly payments typically include both principal and interest, and may also include property taxes and homeowners insurance. This is known as a PITI payment (Principal, Interest, Taxes, Insurance).

Understanding how these payments are structured can help borrowers manage their finances effectively.

How long does it take to close?

The time it takes to close on a mortgage can vary, but it typically ranges from 30 to 45 days. Factors that can influence this timeline include the lender's processing speed, the complexity of the loan, and the responsiveness of all parties involved.

Tips for a Smooth Closing

To ensure a smooth closing process, maintain open communication with your lender and promptly provide any requested documentation.

How much can I borrow?

Your borrowing capacity depends on several factors, including your income, financial commitments, living expenses, and the size of your deposit. While online calculators provide a rough estimate, our detailed assessment provides a much more accurate figure. We do this as part of a formal pre-approval process, so you know exactly what your budget is before you start looking.

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How to apply for a mortgage?

Applying for a mortgage involves several steps. First, gather necessary documents such as proof of income, tax returns, and credit history. Next, research different lenders and mortgage products to find the best fit for your needs.

Steps to Follow

  1. Gather financial documents.
  2. Check your credit score.
  3. Shop around for lenders.
  4. Submit your application.

Following these steps can streamline the mortgage application process.

Talk to us today about your options.

Let’s chat today and find the right solution for you. Whether you’re buying your first home, expanding your business, or upgrading your vehicle, Maxine and the Max Rich Brokerage team provide expert, obligation-free guidance across the Gold Coast, Logan, Brisbane, and the Scenic Rim, tailored to your goals.

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