Looking to buy your next home or renovate your dream one? Make the move to your next home with a finance expert by your side.
Ready to make your next move?
Buying your next home is a different experience to buying your first. You’ve got equity, an existing loan, and a property to sell – all at the same time. It’s exciting, but it can also feel a lot more complicated.
Whether you’re upsizing for a growing family, downsizing to something more manageable, or simply ready for a change of scenery, we’re here to make the finance side of things feel simple. As experienced mortgage brokers, we work with Australians all over the country to help them unlock their equity, compare home loan options across dozens of lenders, and move into their next chapter with confidence.
No jargon. No pressure. Just clear, honest guidance from someone who’s done this before.
Using your equity
One of the biggest advantages of buying your next home (rather than your first) is that you’ve likely built up equity in your current property. And that equity can do a lot of the heavy lifting when it comes to funding your next purchase.
Equity is the difference between what your home is currently worth and what you still owe on your mortgage. For example, if your home is worth $900,000 and you have $400,000 remaining on your loan, your equity is $500,000.
How much equity can I use?
Most lenders will allow you to access up to 80% of your property’s value, minus what you owe. This is known as your “usable equity.” Using the example above:
- Property value: $900,000
- 80% of property value: $720,000
- Remaining loan balance: $400,000
- Usable equity: $320,000
That $320,000 could be used as a deposit on your next property – meaning you may not need to save a separate deposit at all. Some lenders will consider higher LVRs with Lenders Mortgage Insurance (LMI), which we can also help you navigate.
How we help
We’ll pull together a clear picture of your current equity position and show you exactly how much you have to work with. From there, we’ll match you with lenders who can structure your next home loan around it – whether that means accessing equity while your current home sells, or rolling it into your new loan from day one.
Should you sell first or buy first?
It’s the question every next home buyer wrestles with — and the honest answer is: it depends on your situation. Here’s a plain-English breakdown of both approaches.
| Sell first | Buy first |
| ✅ You know exactly what you have to spend | ✅ You won’t miss out on the right property |
| ✅ No risk of owning two properties at once | ✅ You move once — no temporary accommodation |
| ⚠️ You may need short-term accommodation between settlements | ⚠️ You may need a bridging loan to cover two mortgages temporarily |
| ⚠️ You may feel pressure to find a property quickly | ⚠️ Carrying two loans at once adds financial pressure |
| Best for: Those who want certainty and less financial risk | Best for: Those in competitive markets who can’t risk missing out |
Neither approach is right or wrong – it comes down to your financial position, your local property market, and your appetite for risk. We’ll talk you through both options and help you figure out which one makes the most sense for you. And if you do decide to buy first, we can arrange a bridging loan to keep things moving smoothly.
The next home loan process.
Not sure how a mortgage broker works? Find out more here.
From bridging loans to general moving tips; here’s a breakdown of how we will help you buy your next home.
It all starts with taking few minutes to answer a few simple questions right here. Once you’re done, we’ll meet to discuss your goals, financial position and what approach you can take while moving homes, in person or online.
Once we know what you need, we’ll research over 60 banks and lenders to find you a competitive rate. We’ll even provide a written recommendation on the loans that fit your needs, just for you.
Paperwork is our job. Once you’ve chosen the lender, we’ll work with them to package, sign and lodge documents to get you ready for pre-approval.
Moving is painful enough, so once you’re approved, we’ll make the transition from your current loan to new loan as pain free as possible. A valuation will then take place on your new home, insurance details provided and a settlement day will be scheduled.
In this final stage, we’ll coordinate the lead-up to settlement where the funds from your new home are used to pay off your current loan. We’ll liaise with your existing and new bank and if you’re borrowing any extra cash, it will be ready to go. A solicitor or conveyancer is still involved here to change the lender name on your paperwork.
Thought of moving already stressing you out? Fear not. When the big day (or days!) come we can organise for a trusted team of experts to be at your side to take care of it for you. We also have partners who can help get your connections set up too, so you can sit back and take in the new view.
Loan types and features
There are a number of loan types and features that you might want to consider for your new home loan, scroll through some of the options below to get a better understanding of what the differences are. We’re here to answer your questions when you’re ready.
Variable Rate Loan
As the name suggests, the interest rate can change over the life of the loan. This gives you flexibility, but can also leave you open to rate rises. These loans can also offer the option of additional repayments and redraw, as well as offset accounts.
Fixed Rate Loan
Basically, this is the opposite of a variable rate loan. Your interest rate and repayments will stay the same during the fixed term, no matter what. So no surprises. You can’t make extra repayments during the fixed term though, so it’s worth thinking about a split loan if you’re planning to pay extra.
Split Loan
The best of both worlds – you’re able to fix part of your loan, while leaving the rest variable.
Not sure which is right for you? Compare home loan rates across our lender panel.
Packaged Loan
A packaged loan is a bundled product (typically featuring loan, offset & credit card accounts) from a lender.
It usually attracts an annual fee for the bundle, but can offer significant discounts to standard rates.
Line of Credit Loan
This gives you flexibility and easy access to cash for renovating or investing. It lets you draw against the loan balance, up to a credit limit set by the lender.
Interest Only Loan
As the name suggests, you only pay the interest on the principal balance for a set term, with the principal balance unchanged.
Construction Loan
If you want to build a home this is your loan. Most construction loans are interest only for the first year while the build is underway and interest is charged on the amount you draw down on from the loan for building repayments.
What does it cost to buy your next home?
Beyond the purchase price, there are a number of upfront costs to factor into your budget. The exact amounts will depend on the state you’re buying in, your loan size, and your circumstances — but here’s a general guide to get you started.
| Cost | Typical range | Notes |
| Stamp duty | Varies by state & price | One of the biggest upfront costs. Use our stamp duty calculator to get an estimate. |
| Conveyancing / solicitor | $1,500 – $3,500 | Required to handle the legal transfer of property. |
| Building & pest inspection | $400 – $800 | Strongly recommended before making an offer. |
| Lenders Mortgage Insurance (LMI) | Varies | Only applies if your deposit or equity is less than 20% of the purchase price. |
| Loan application fees | $0 – $800 | Many lenders offer fee-free applications; we’ll flag any fees upfront. |
| Moving costs | $500 – $5,000+ | Depends on distance and volume. |
| Utility connections & setup | $0 – $500 | We have partners who can help get you connected from day one. Compare energy plans here. |
Tip: Use our stamp duty calculator to get a real-time estimate based on your state and purchase price. It only takes a minute.
FAQs for next home loans.
Generally you have two options for switching your current loan. You can either refinance with the same lender (or a new lender) or pay out the existing loan and take out a new one with your new property. We can help you determine what you can afford and which option may be right for you.
A bridging loan helps you purchase a new home whilst you wait for a buyer to purchase your current one. The loan works by covering the cost of your new property with the idea that this debt will be paid off when your old property sells.
Yes – and it’s one of the most common ways next home buyers fund their purchase. Your usable equity (generally up to 80% of your property’s value minus what you owe) can be accessed and used as a deposit, without needing to sell first. We’ll calculate your equity position and show you exactly what’s available.
Most lenders require a minimum of 10–20% of the purchase price. However, if you have sufficient equity in your current property, you may be able to use that in place of a cash deposit. If your deposit or equity is below 20%, Lenders Mortgage Insurance (LMI) may apply – though some lenders and loan structures can help minimise this cost especially for people in certain professions who may be eligible for LMI waivers.
Lenders will factor in your current mortgage repayments when calculating how much you can borrow. This is called your serviceability assessment. The good news is that once you sell your current home and pay out that loan, your borrowing power increases significantly. We’ll model out both scenarios so you can see where you stand before and after the sale.
A variable rate moves with the market – when the RBA cuts rates, your repayments can go down; when rates rise, they go up. Variable loans typically offer more flexibility, including extra repayments and redraw. A fixed rate locks in your interest rate for a set term (usually 1–5 years), giving you predictable repayments regardless of what the market does. A split loan lets you do both. We’ll help you decide what suits your situation and risk appetite.
It depends on your financial position and the current property market. Selling first gives you certainty over your budget and avoids carrying two loans – but it can leave you scrambling to find the right property quickly. Buying first means you won’t miss out on the right home, but you’ll need a bridging loan and the financial buffer to carry two mortgages for a period. We’ll talk through both options with you and help you make the right call.
Need some help?
Not sure where to start? That’s exactly what we’re here for. Drop us a message and we will get back to you within one business day with clear, honest advice tailored to your situation.