How Much Can I Borrow?
We assess your income, expenses, existing commitments and proposed loan to help establish a realistic purchasing range.
BUYING YOUR NEXT HOME
Home Loans for Your Next Move Let's Get the Finance Right Too.
Whether you're upsizing, downsizing or simply ready for something different, buying your next home can involve more moving parts than your first. We help you understand your borrowing position, available equity, purchase costs and lending options before you make the move.
PLANNING YOUR NEXT MOVE
There's More to Consider Than the Purchase Price
Your existing property, current mortgage, available equity and timing can all influence how your next purchase is structured.
How Much Equity Do I Have?
If you already own property, available equity may form part of the contribution toward your next purchase, subject to valuation and lending requirements.
Buy First or Sell First?
The order can affect your cash flow, loan structure and settlement timing. Understanding both scenarios before committing can make the process much clearer.
Keep or Sell My Current Home?
Some homeowners consider retaining their existing property as an investment. The borrowing, cash-flow and tax implications should be considered carefully.
THE PURCHASE PROCESS
A Clearer Path to Your Next Property
Getting the finance organised early can make the property search and purchase process much easier to manage.
1
Review Your Current Position
We look at your existing home loan, property, income, liabilities, savings and what you're planning to purchase.
2
Establish Your Buying Power
We assess borrowing capacity and available funds so you have a clearer idea of the price range you can consider.
3
Plan the Loan Structure
We consider your deposit or equity, proposed loan amount, loan features and how the new lending should be structured.
4
Compare Lending Options
We compare suitable options from our lender panel and explain the differences in rates, fees, features and lending requirements.
5
Purchase & Approval
Once you find the right property, we help progress the application through valuation and formal approval requirements.
6
Documents & Settlement
We help manage the lending side through loan documents and settlement while keeping you informed throughout the process.
USING YOUR EXISTING EQUITY
Your Current Home May Help Fund Your Next One
If your property has increased in value or you've reduced your existing mortgage, you may have built equity that can potentially contribute toward your next purchase.
Importantly, your total property equity isn't necessarily the amount a lender will allow you to access. The usable amount depends on the property's valuation, existing debt, proposed loan-to-value ratio and lender policy.
We can help you work through the numbers before you start making offers.
Estimate your available equity →BEFORE YOU MAKE AN OFFER
Know these three numbers.
01
Your estimated borrowing capacity
02
Your available deposit or usable equity
03
Your purchase costs and required contribution
TIMING YOUR MOVE
Buy First, Sell First or Keep Your Existing Property?
There isn't one answer that works for everyone. Your finances, property position and timing will determine which approach is more appropriate.
Sell Before You Buy
Selling first can provide greater certainty about the funds available for your next purchase, although settlement timing and temporary accommodation may need to be considered.
Buy Before You Sell
Some borrowers may have sufficient income, equity or access to an appropriate lending structure to purchase before their existing property settles.
Keep Your Existing Home
Retaining your current property may be an option, but servicing both debts, rental income, equity structure and ongoing costs all need to be assessed.
The appropriate structure depends on your individual circumstances and lender requirements. Tax implications should be discussed with a suitably qualified tax adviser.
RUN THE NUMBERS
Plan Your Purchase Before You Commit
These calculators can give you an initial indication of borrowing capacity, buying costs and potential repayments.
WHY TULIP FINANCE
The Right Property Is Only Half the Decision.
When you're buying your next home, the finance can involve your existing mortgage, property equity, sale proceeds, purchase costs and a new loan all at the same time.
We help bring those pieces together, compare suitable lending options and manage the application through to settlement so you understand what is happening at each stage.
Learn more about Tulip Finance →HOME PURCHASE FAQs
Questions About Your Next Purchase?
Some of the common questions we hear from homeowners preparing for their next move.
Can I use equity in my current home as my deposit?
Potentially. The amount available will depend on your property's lender valuation, existing mortgage, proposed lending and the lender's acceptable loan-to-value ratio.
Should I sell my current home before buying?
Selling first can provide certainty around your available funds, but it isn't the only possible approach. Your borrowing capacity, equity and settlement timing should be assessed before deciding.
Can I keep my existing home as an investment property?
It may be possible if you can meet the lender's servicing and other requirements. Rental income, existing debt, equity, expenses and the proposed new loan will generally form part of the assessment.
Do I have to stay with my current bank?
No. Buying another property can be an opportunity to review your existing lending as well as the proposed new loan and compare suitable alternatives.
What costs should I allow for when purchasing?
Depending on the transaction, costs can include stamp duty, transfer and registration fees, conveyancing, inspections and lender-related costs in addition to your deposit.
Can the sale and purchase settle on the same day?
Coordinated settlements are possible in many transactions, but timing is important because funds from one settlement may be required for the other. Your conveyancer or solicitor and lender should be coordinated carefully.
PLANNING YOUR NEXT MOVE?
Let's Work Out the Finance Before You Make the Offer.
We can review your existing position, available equity and borrowing options so you can approach your next purchase with a clearer plan.
Information on this page is general in nature and does not take into
account your individual objectives, financial situation or needs.
Lending criteria, rates, fees and policies vary between lenders and
may change. Tax implications should be discussed with a suitably
qualified tax adviser. Please refer to our Disclaimer and Credit
Guide for further information.