Buying your Next Home
Whether you’re upgrading or downsizing your home it may also be the right time to see if your current home loan is still right for you. What are your goals? Do you want to pay off your new loan as quickly as possible? Or do you need to keep your repayments down because your family is growing? Or are you building your new home and need a construction loan? Making an appointment with Genius Home Loans takes the headache out of moving and makes it simple.
Before you decide to buy a new home, there are a few things you may need to consider.
Should I Sell My Property Before I Buy?
If you sell before you buy you avoid having to cover two mortgages at once, and you’ll know exactly how much money you have to spend.The downside of selling before buying again is that you may have to rent a house or unit while you look for a new home. It means you’ll also have to move twice and you’ll incur double your moving expenses, not just transport but also double the utility connections.
To help avoid this, it may be possible to negotiate a long settlement when buying your new home – you might be able to avoid doubling your moving costs.
Buying & selling homes simultaneously
There’s plenty to consider when buying and selling at the same time. Obviously your aim is to get the highest selling price for your home while making sure you don’t pay too much for your new one.
Timing is important because ideally you want the buying and selling processes to be as close together as possible. In a perfect world you’d settle on your new home on or just a few days before settlement on your old one. Some mortgages offer you the benefit of portability, so when you buy a new property you can take the mortgage with you.
Find out your Options that are possible
The Next step
There are many parts of the process, and much to know. Every step is important and has its place. Our clients that have followed our process, used our professional help have given themselves the greatest chance of hearing the words that we are all after “CONGRATULATIONS, YOUR NEW HOME LOAN IS APPROVED’.
Your Property Investment
How to choose the best investment loan that meets your needs and goals. A good investment loan can make property investment a much smoother process. Investment loans vary depending on what you are looking to achieve, and can be either very simple (like your standard home loan), or something more complex that helps you make effective use of tax, gearing and repayments. You can also make good use of loan features such as redraw, offset and additional repayments to help manage your investment loan.
Is Property Investment Easier if I Already Own Property?
If you have equity in any existing property, for example your family home or another investment property, you may be able to use this to increase how much you can borrow and more quickly build a substantial property portfolio. Ultimately it will depend on your personal financial situation and investment goals.
How Will a Mortgage Broker Help?
A good mortgage broker will assist you to find the investment property loan package that is most suitable to achieving your investment goals, working closely with your accountant and/or financial planner. With access to investment property loans from a large range of banks and lenders, your mortgage broker will save you time and money.
Borrowing Against Superannuation
More Australian investors are considering Self Managed Super Funds (SMSF) as a way to protect and grow their retirement wealth. Investing through your SMSF may be a tax effective way for you to borrow to invest in residential or commercial property. As any income from the investment property, including capital gains, will be taxed at concessional rates, you could save money in the long run. Again your advisors are the ones to help form your strategy here so you are in an informed plan.
Refinance
Are you refinancing to reduce your interest rate or to pay off your loan faster? Are you looking to access the equity in your current property for renovating, to purchase an investment property or because you want to free up some extra cash? Do you need to consolidate credit cards, personal loans and other debts to reduce your monthly repayments?
Loan Health Check
Mortgage repayments usually represent most people’s single largest monthly expense, so it makes good sense for borrowers to have a
“check-up” done on their mortgage – just like going to a doctor’s surgery.
At Simple Mortgage Solutions “home loan health check” is free of charge and involves a comprehensive analysis of your current home loan. We'll compare home loans across a range of alternative mortgage products.This takes into account interest rates, fees, loan structures, terms and conditions of the loan, as well as additional features including internet banking, offset accounts, discounted credit cards and insurance products.
Depending on your situation, refinancing can be a very effective financial move that can save you money year in, year out.
Arrange your Free Home Loan Health Check NOW Call 1300 243 648
Whether you’re upgrading or downsizing your home it may also be the right time to see if your current home loan is still right for you. What are your goals? Do you want to pay off your new loan as quickly as possible? Or do you need to keep your repayments down because your family is growing? Or are you building your new home and need a construction loan? Making an appointment with Genius Home Loans takes the headache out of moving and makes it simple.
Before you decide to buy a new home, there are a few things you may need to consider.
Should I Sell My Property Before I Buy?
If you sell before you buy you avoid having to cover two mortgages at once, and you’ll know exactly how much money you have to spend.The downside of selling before buying again is that you may have to rent a house or unit while you look for a new home. It means you’ll also have to move twice and you’ll incur double your moving expenses, not just transport but also double the utility connections.
To help avoid this, it may be possible to negotiate a long settlement when buying your new home – you might be able to avoid doubling your moving costs.
Buying & selling homes simultaneously
There’s plenty to consider when buying and selling at the same time. Obviously your aim is to get the highest selling price for your home while making sure you don’t pay too much for your new one.
Timing is important because ideally you want the buying and selling processes to be as close together as possible. In a perfect world you’d settle on your new home on or just a few days before settlement on your old one. Some mortgages offer you the benefit of portability, so when you buy a new property you can take the mortgage with you.
Find out your Options that are possible
- Arranging bridging finance to help you get through the period where you may have not sold your existing home before purchasing your new home
- Learn how to take your mortgage with you to your new home
- Using the equity in your current home
- Financing both properties if you decide to keep your current home as an investment property.
The Next step
There are many parts of the process, and much to know. Every step is important and has its place. Our clients that have followed our process, used our professional help have given themselves the greatest chance of hearing the words that we are all after “CONGRATULATIONS, YOUR NEW HOME LOAN IS APPROVED’.
Your Property Investment
How to choose the best investment loan that meets your needs and goals. A good investment loan can make property investment a much smoother process. Investment loans vary depending on what you are looking to achieve, and can be either very simple (like your standard home loan), or something more complex that helps you make effective use of tax, gearing and repayments. You can also make good use of loan features such as redraw, offset and additional repayments to help manage your investment loan.
Is Property Investment Easier if I Already Own Property?
If you have equity in any existing property, for example your family home or another investment property, you may be able to use this to increase how much you can borrow and more quickly build a substantial property portfolio. Ultimately it will depend on your personal financial situation and investment goals.
How Will a Mortgage Broker Help?
A good mortgage broker will assist you to find the investment property loan package that is most suitable to achieving your investment goals, working closely with your accountant and/or financial planner. With access to investment property loans from a large range of banks and lenders, your mortgage broker will save you time and money.
Borrowing Against Superannuation
More Australian investors are considering Self Managed Super Funds (SMSF) as a way to protect and grow their retirement wealth. Investing through your SMSF may be a tax effective way for you to borrow to invest in residential or commercial property. As any income from the investment property, including capital gains, will be taxed at concessional rates, you could save money in the long run. Again your advisors are the ones to help form your strategy here so you are in an informed plan.
Refinance
Are you refinancing to reduce your interest rate or to pay off your loan faster? Are you looking to access the equity in your current property for renovating, to purchase an investment property or because you want to free up some extra cash? Do you need to consolidate credit cards, personal loans and other debts to reduce your monthly repayments?
Loan Health Check
Mortgage repayments usually represent most people’s single largest monthly expense, so it makes good sense for borrowers to have a
“check-up” done on their mortgage – just like going to a doctor’s surgery.
At Simple Mortgage Solutions “home loan health check” is free of charge and involves a comprehensive analysis of your current home loan. We'll compare home loans across a range of alternative mortgage products.This takes into account interest rates, fees, loan structures, terms and conditions of the loan, as well as additional features including internet banking, offset accounts, discounted credit cards and insurance products.
Depending on your situation, refinancing can be a very effective financial move that can save you money year in, year out.
Arrange your Free Home Loan Health Check NOW Call 1300 243 648