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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What does a mortgage broker do?

A mortgage broker is your professional partner in property finance. We first assess your financial situation and goals. Then, we compare hundreds of loans from our panel of over 60 lenders to find a suitable option. Finally, we manage the entire application process for you—from lodging the paperwork to liaising with the banks and coordinating settlement. We are your guide and advocate every step of the way.

What does pre-approval mean and do I need it?

A pre-approval (also called conditional approval) is a formal confirmation from a lender of how much they are willing to lend you, subject to certain conditions. In the competitive Gold Coast property market, getting pre-approved is an essential first step. It proves to sellers and agents that you are a serious buyer and gives you the confidence to know your exact spending limit.

What happens to my mortgage when I move house?

When you move, you typically have two options. The most common is to 'discharge' your current mortgage using the proceeds from your property sale and take out a new loan for your next purchase. Alternatively, some loans have a 'portability' feature that allows you to transfer your existing loan to your new property, which can sometimes save on fees. We will advise you on the most cost-effective strategy for your situation.

What is Best Interest Duty (BID)?

Best Interest Duty is a legal obligation that requires mortgage brokers to act in their clients' best interests at all times. This is a critical consumer protection that is not placed on banks. It means we are legally required to prioritise your interests and recommend a loan that is suitable for your circumstances.

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What is Lenders Mortgage Insurance (LMI)?

Lenders Mortgage Insurance (LMI) is an insurance policy that protects the lender (not you) against a loss if you are unable to repay your loan. It is typically required if you borrow more than 80% of the property's value. While it is an extra cost, LMI can also be a useful tool that allows you to purchase a Gold Coast property sooner with a smaller deposit.

What is a deposit bond?

A deposit bond is a type of insurance policy that can be used as a substitute for the cash deposit you need when you sign a contract of sale. It’s useful if your funds are temporarily tied up, for example, in an existing property or a term deposit. It guarantees the deposit amount to the seller, with the full purchase price paid at settlement.

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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