Changeover Home Loan

Generally, our advice to homeowners is always to consider selling your property before buying your next home. This lets you know exactly how much you have available for your new purchase.

Of course, we also understand that life doesn’t always work that way. You may have special circumstances or simply find the perfect new home before your current house sells. With the right advice and help from an experienced finance broker, it’s possible to make this happen with a changeover loan.

Finding the right loan

Whilst there are loan products specifically designed for this home changeover situation, we have also successfully helped clients with an increase on their current home to cover the required deposit and then a new loan for the purchase.  This option does not tie you to a six month sale commitment (as a changeover loan does) and even allows one of the properties to be rented out as an investment (perhaps short term), if this is your preferred option.

As long as there is sufficient equity in the home being sold, we can generally arrange a changeover loan for you, as well as a deposit arranged from your current home or an insurance deposit bond to cover for the purchase.

Discuss your needs and situation with us and we will work towards a possible solution for you. For a number of clients, having their changeover loan approval arranged by an expert provided time to match up the sale and purchase settlement dates. In these cases, the changeover loan wasn’t required in the end, but it gave the homeowners the ability to sell without additional pressure and stress.

Ready to get started? Get in touch with Philip Pay on 0439 400 497 or email to find out how Finance Consulting Group can support your loan application.