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 is an offset account?

An offset account is a separate transaction account that is linked to your home loan. The balance held in this account is 'offset' against your mortgage balance, and you only pay interest on the difference. For example, if you have a $500,000 loan and $50,000 in your offset account, you only pay interest on $450,000. It's a powerful tool to help you save on interest and pay off your Gold Coast home loan faster.

What is equity?

Equity is the portion of your property that you truly own. It’s calculated by taking the current market value of your property and subtracting the amount you still owe on your mortgage. Your equity grows as you pay down your loan and as your property's value increases, and it can be a powerful tool for funding renovations or as a deposit for your next Gold Coast property.

What is genuine savings?

Genuine savings is a term lenders use for funds that you have saved consistently over a period of time, typically at least three months. Lenders like to see this as it demonstrates good financial discipline. However, even if your deposit has come from another source like a gift, don't worry—we work with many lenders who have flexible policies and can still assist.

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What is stamp duty and how much does it cost?

Stamp duty is a tax charged by the Queensland Government on the purchase of a property. The amount payable is calculated based on the property's value, and concessions or exemptions may be available, particularly for first home buyers. As part of our service, we will provide you with a precise calculation of the stamp duty payable for your purchase.

What is the difference between a fixed rate home loan vs a variable rate?

A fixed rate loan locks in your interest rate for a set term (e.g., 1-5 years), providing certainty that your repayments won't change. A variable rate loan has an interest rate that can move up or down with the market, offering more flexibility with features like extra repayments and offset accounts. You can also choose a split loan, which gives you the best of both worlds.

What is the difference between offset accounts and redraw facilities?

An offset account is a separate everyday bank account linked to your loan. The money in it remains yours and is offset against the loan balance to reduce your interest. A redraw facility allows you to access any extra repayments you've made directly into your loan account. The key difference is ownership: money in an offset is yours, while money paid into a loan becomes the lender's, which you can then ask to 'redraw'.

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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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