Home Upgrader Loans
Ready to upgrade? Let's structure it properly.
Upgrading isn't just a bigger version of your first purchase. You've likely built equity in your current home, and now need to work out the best way to move from one property to the next, without ending up homeless between settlements, or stuck holding two mortgages longer than necessary.
There are generally three ways to approach it, and the right one depends on your equity position, how confident you are in your sale timeline, and how much risk you're comfortable carrying:
- Simultaneous settlement. Your sale and purchase settle on the same day. This avoids carrying two loans at once, but it means your purchase is dependent on your sale completing exactly on schedule, any delay on one side can jeopardise the other.
- A bridging loan. You settle on your new home first, using your current property as security, and sell afterwards on a more realistic timeline. This removes the pressure of a rushed sale, but you'll carry peak debt, and interest, while both properties are held.
- Buying on existing equity. If you have enough equity in your current home, you may be able to fund your next purchase without selling first at all, and sell later, or keep the first property as an investment.
We work through your actual numbers, your equity, your sale confidence, and your risk appetite, before recommending which of these three paths fits your situation, rather than defaulting to whichever is easiest to arrange.
From there, we structure the new loan around your next stage of life, whether that's room to grow into, a lower repayment while you settle in, or paying it down faster once your sale proceeds come through.
How We Help
Pathway Assessment
Equity & Borrowing Assessment
Settlement Coordination
Loan Repayment Calculator
See what your monthly repayments could look like based on your loan amount, interest rate and loan term.
Borrowing Capacity Calculator
Find out how much you may be able to borrow based on your income, expenses and current financial situation.
Frequently Asked
Read through our FAQ’s for added information. Have other questions? Contact our team today.
No. You can generally get pre-approved for your next purchase before your current home is even on the market. This helps you understand your budget and move quickly once you find the right property.
If you've used a bridging loan, most lenders allow an extension, usually at a higher interest rate. This is exactly why we build a realistic sale timeline upfront rather than an optimistic one, to reduce the chance of this happening.
This depends on your current property's value against your remaining loan balance, and how much of that equity a lender will let you access. We calculate your usable equity as part of the initial assessment.
A simultaneous settlement means your sale and purchase settle on the same day, so you never hold two properties at once. A bridging loan means you settle on your new home first and sell afterwards, giving you more breathing room, but at the cost of carrying both loans temporarily.
Yes, this is one of the most common questions we get from upgraders. A bridging loan lets you settle on your new home first and sell your current one afterwards. Depending on your equity position, buying without a bridging loan at all may also be possible.
