Considering the prospect of buying a second home? Beyond Broking is your trusted partner in transforming this dream into reality. Our extensive experience has empowered countless clients to secure second homes for a range of purposes, tailored to their unique needs.
What sets us apart is our holistic approach. We don't merely focus on securing the right loan; we consider your current financial situation to find the most effective path forward. We recognise that your current property is more than just a dwelling; it's a valuable asset that can open doors to new opportunities.
Whether it’s time to upgrade, downgrade or invest, our expertise can guide you toward owning your second home sooner.
Our proven process streamlines your journey. We evaluate your current property's equity and borrowing capacity, explore refinancing options to access equity if needed, and secure a customised loan aligned with your second home's purpose.
Unlock Your Equity
We assist in evaluating your available equity, which can be utilised to increase borrowing capacity and secure more competitive loan offers and terms.
Access To Over 50 Lenders
We give our clients greater choice, accessing more deals and therefore able to find the most competitive rates and terms.
Accounting Backgrounds
Our broad experience in the accounting and finance field allow us to help our clients identify home loan saving opportunities.
If finding enough funds to buy your next home is proving to be a little more difficult that you expected, you may be able to utilise the equity in your current home. Accessing available equity can be easier than you think and could mean you’re closer to an upgrade sooner than you think!
Talk to us about assessing your current equity status and we’ll help you find out what your equity value is and if you can leverage it to finance your next home.
Bridging loans can help you complete a property purchase before you have sold your existing home by offering short-term access to money to facilitate the transaction
There are a number of risks and costs involved, however they do allow you to buy your new home as soon as you’ve found it and means you avoid having to place a subject to sale offer. In some cases, we can avoid bridging loans by developing an alternative loan strategy.
Looking to retain your current property as an investment? It’s important we implement the correct structures upfront, so you benefit from your investment. A lot of factors need to be considered so give us a call and we can talk through the details and your personal situation.
Want to know if you’re picking a winner? Our relationships with lenders mean that we have access to tools that assist in the home buying process. From property and finance reports to good knowledge and experience, we can assist you with due diligence to ensure you purchase a property at the right price that you’re going to be happy with well into the future.
One of the key strategies in acquiring a second home is leveraging the equity you've built in your current property. At Beyond Broking, we understand that your existing property represents more than just a place to live; it's a valuable asset that can unlock new opportunities. By harnessing the equity you've accumulated over the years, you can open the door to diverse possibilities.
Our dedicated team will guide you through this process, uncovering your available equity and showing you the best ways to utilise it. We believe in making your financial journey as straightforward as possible, ensuring that your dreams of owning a second home become a reality.
No matter why you're considering purchasing a second home, Beyond Broking is here to assist you every step of the way. Our expertise extends to all motivations behind owning a second property, ensuring your unique aspirations are met.
psizing: Upgrading your home often comes with the desire for more space and improved amenities, whether due to a growing family, the need for a home office, or a desire for modern luxuries. It can also be driven by a change in lifestyle, such as seeking a larger backyard, proximity to better schools, or a move to a more desirable neighbourhood, ultimately enhancing your quality of life.
Downsizing: Downsizing is typically motivated by a desire to simplify life, reduce maintenance, and potentially free up financial resources for other pursuits, like travel or retirement. Empty nesters often choose to downsize as their children leave home, seeking a smaller, more manageable home that better suits their current needs and lifestyle, while potentially unlocking home equity.
Investment Property: Investing in a second home can be a financially savvy move. Not only does it offer the potential for rental income, but it can also appreciate in value over time. Beyond Broking can help you navigate the process of financing an investment property, making it a rewarding addition to your portfolio.
Holiday Home: Imagine having your very own holiday retreat, ready to welcome you whenever you desire a getaway. Beyond Broking understands the value of creating cherished memories in a space that feels like a home away from home. We can guide you in securing a holiday home that perfectly suits your preferences.
Home For A Family Member: Sometimes, the motivation for a second home is to provide a comfortable and convenient living space for family members. Beyond Broking can assist you in securing a property that accommodates the needs of your loved ones while maintaining financial prudence.
No matter your reason for buying a second home, Beyond Broking's specialised guidance ensures that your unique aspirations are realised. Contact us today, and let's explore the diverse opportunities that await you in the world of second homeownership.
Discover Your Equity and Capacity: We begin by evaluating your current property's equity and your borrowing capacity, meticulously aligning them with your unique goals and financial situation. This critical step ensures that your second home journey is founded on a solid understanding of your resources.
Mortgage Refinancing: If deemed beneficial, we explore refinancing options that allow you to strategically access your property's equity. Our expertise ensures that refinancing, if chosen, is a well-informed decision that maximises your financial advantage.
Apply for a New Loan: Depending on your second home's intended use, we guide you through the process of securing a tailored loan that precisely suits your specific needs. Our goal is to ensure that your financing aligns seamlessly with your vision for your second home.
Most lenders ask for 5% of the property value as a deposit is the general rule of thumb. However, it’s important you factor in purchase costs like stamp duty, conveyancing and potentially lenders mortgage insurance (LMI).
The bigger deposit you can save the better as it means we will be able to find you more options to choose from and overall it will make the approval process easier.
You can always put in a subject to sale offer, or you may like to consider a bridging loan. Bridging loans enable you to buy a new home before your existing home is sold. It can be tricky and has some risks, so it’s really something you need to discuss with us and we’ll find you the safest options.
If you’re financially able to – then yes, definitely! This could be your start to an investment portfolio. We will look through your financials and evaluate your ability to make repayments on both loans, including any potential rental income your new investment property may be able to contribute to the repayment amounts.
While this is a slightly different scenario to buying your first home the same requirements exist when proving you can foot the bill.
Your income and current debts will be a key factor and any growth in value on your current home may put you in a better borrowing position with more access to products and potential discounts. Try out our borrowing calculator to punch some initial borrowing power figures.
Variable interest rates move up and down and normally relate to changes in official interest rates set by the Reserve Bank of Australia (RBA). A variable rate loan is beneficial when rates are on the decline or you need flexibility in your home loan.
Fixed interest rates don’t move. You can set (fix!) your rate for a particular period of time, normally between one and five years, and is most beneficial when interest rates are on the rise or want certainty in repayments.
