Loan for Existing Home Owners, MORTGAGE to Purchase a Second Home or Rental Property

Buying your next home is often required to fit a growing family, move into a new area or purchase a rental investment property.

As with first home buyers, extending the mortgage is also a big financial decision.

It’s important to work with someone who knows the finance requirements when selling your existing property and purchasing a new property. 

That’s where I come in. As your mortgage broker I offer extensive services and consulting around the home loan process.

Services Provided to Existing Home Owners;

  • Assist with the co-ordination of buying a new property and selling your existing property in the same market.
  • Obtain bridging finance from your existing lender or from a specialist lender if settlement dates do not match up.
  • Discuss options around keeping your existing property as a rental investment if that is a goal of yours.
  • Help with finance requirements to purchase your first or second rental property
  • Review existing and new mortgage structures to ensure you are in a position to minimize interest costs over the life of your mortgage.
  • Provide competitive interest rates for your mortgage refinance and refix – and quickly compare with other lenders.
  • Provide house insurance reviews and competitive house, contents and car insurance quotes
  • Provide Personal Risk Reviews to ensure you and your family are adequately insured.

As before my services to you are free. I work as your advocate and ensure you get the best mortgage advice. I am only paid a commission from the bank once your mortgage is secured and successful.

first home buyer

My job is to walk you through the mortgage process and ensure you get the right mortgage and have a financially stable future ahead of you.

You don’t need to commit this to memory, but below is an overview of what my process looks like for first time home buyers:

Meeting and Chat

Every mortgage and loan is different, so I take the time to understand you and your situation, so we can prepare the right supporting documents for the bank

Set up for Mortgage Application Success

One of the biggest parts of my job is making sure your application is complete and attractive to the banks to approve the loan. Your application is custom built to highlight your individual circumstance and lending eligibility.

Summary and Action Steps

I get it, it’s a lot to remember. After our first meeting, I will send you a summary that you can refer to at any time, plus a list of the action points we need to take to get ready for the next step.

Home Ownership Budget

Indicative home ownership budgets will be presented along with quotes for homeowners’ insurance to demonstrate that the budgeting for a new home has been well thought out and established.

A Home Buyers Financial Assessment

There are several hidden costs that come with buying a home that aren’t included in mortgage payments. To ensure you are fully prepared for the transition, we do a financial assessment to compare your existing fixed costs and the added costs of a new home to ensure you have the right finances in place.

Options for Deposits – (Including Bridging Finance)

Second time home buyers are limited in their options for deposit funds. Often it is the equity in the existing property, plus savings which is used for a deposit.
Depending on the settlement dates, applications may need to be presented with a request for bridging finance.

Second Time Home Buyers Checklist

Buying your second home (along with selling your existing home) is a time-sensitive process with many steps. To help keep things on track, I offer a full checklist of steps and timeframes that need to be met. You will never be unsure of where we are in the process.

This is just a brief summary to give you an idea of what the process looks like to prepare for a mortgage. If you are ready to get started or want to ask a few more questions, contact me today.

    Testimonials

    • Oliver was unbelievable in helping us buy our first home. He was there every step of the way and was on hand to answer any questions we had. I don’t think we would have gotten our home without his help. Really nice to work with, highly recommend him.

      Shane Chambers Avatar Shane Chambers
      31/08/2023
    • Extremely good Mortgage Broker, would recommend to anyone. He was very helpful in getting us our first home, and guiding us through the mortgage process. Highly professional and a pleasure to work with.

      Liam Burke-Barton Avatar Liam Burke-Barton
      13/12/2022
    • Highly recommended, top quality advisor - very happy with the result. Oliver was able to provide multiple loan options for us to consider which gave us valuable choices and comfort levels and enabled us to make the best decision.

      Steven Holden Avatar Steven Holden
      21/09/2021
    • Oliver is truly the best broker we have ever used. He assisted us with new build home loans, commercial finance and finance. He is super knowledgeable, helpful and honest. We have used Oliver for many years. He helps you every step of the way.

      Lara Kamionka Avatar Lara Kamionka
      15/05/2022
    • Thanks to Oliver's help, my partner and I were able to purchase our first home. He was so incredibly helpful, answered all of our questions and gave good, solid advice. We really wouldn't have achieved this milestone without him and couldn't recommend him more!

      Olivia Day Avatar Olivia Day
      27/06/2023
    • Working with Oliver was great! We felt like we had constant support throughout the journey, which is quite overwhelming for a first home buyer. We would highly recommend working with him.

      Chris Morgan Avatar Chris Morgan
      28/02/2021
    • Oliver provides concise mortgage advice enabling you to make informed decisions during the process. I have used Oliver's services several times over the years and each time been happy with the outcome.

      Patrick Long Avatar Patrick Long
      19/12/2021
    • VERY happy with services, solutions and responsiveness from Oliver and his team. Happy to recommend him to anyone looking for financial services and advice.

      Michael Preece Avatar Michael Preece
      29/10/2023
    • Oliver has worked with our family for over 20 years and we will continue to use his expertise well into the future. He has personally help me purchase my first home and rental investment, and always finds us the best interest rates every time we refix. Oliver is your go to guy when it comes to buying property and I can't recommend him enough.

      Lis Garman Avatar Lis Garman
      01/10/2021
    • Oliver is amazing he made the whole process of buying and selling super easy and hassle free. Would highly recommend

      Lisa Johnson Avatar Lisa Johnson
      30/10/2022