If you’ve outgrown your existing home and looking to move or upgrade to a brand new bigger home, it’s the perfect time to review your current needs and ensure you have the right solution to suit your changing lifestyle.
If you love where you live and would like to upgrade your current home with a renovation, you should check out our information on Re-financing.
At Loan Studio, our dedicated home loan experts will guide you through the finance process and work with you to find a solution to suit your individual needs. Our home loan experts can guide you through Re-location Loans, Comparing Home Loan Products, and answer your questions.
You've found that a perfect property or a block of land to build your dream home, and want to move quickly, without the delay or added stress selling your existing home may cause. A Relocation Loan enables you to purchase your new property, or start construction, before selling your existing home, giving you the breathing space to make important decisions.
The amount you can borrow with a relocation loan will depend on the amount of equity you have in your existing property combined with the property’s current market value.
Unsure about how much you can borrow, or have further questions you would like
answered?
You should have your existing home valued by an (accredited) bank valuer before you make any new purchase decisions.
It is important to note that a valuation by a real estate agent is not considered sufficient and will not provide an accurate guide for your borrowing capacity.
Your relocation loan can be established to pay for your deposit on your new home, with the balance, plus additional expenses like stamp duty. These loans have a period of 6 months which generally covers the purchase of a new home and the sale of an existing property. For the construction of a new home, relocation loans can be established with 6 months for construction and 6 months to sell your existing home.
To get you started, we have collated all of the questions we have been asked by our Upgrader clients. Check out our FAQs, or download our handy Tips on whether to sell first before buying.
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Tips on whether to sell first before buying
