It’s time to move up the property ladder and purchase your next home.
What comes first, selling your existing property or buying the new one? Or maybe you’re keeping your own home and buying an investment property. Do you still need a cash deposit? We can give you all the mortgage advice you’ll need before you purchase your next home. Things have probably changed since you bought your first home so we’ll also talk through your current financial position and future goals and make sure we come up with the best mortgage deal for you.
Should I just stay with my bank?
At MortgageMe we can help you get the best deal from your bank or a new bank. Shopping around for a loan can only get you a better home loan deal and we can help you do this all for free.
Banks are always on the lookout for new customers, sometimes that means they don’t always look after their existing customers quite as well as they should. At MortgageMe we will keep them honest for you, making sure they always give you a market leading home loan offer.
Should we buy first, or sell first?
Both have risks, if you buy first then you may be under pressure to sell. If a potential buyer finds out you have purchased another property this may also have a negative impact on the price they might offer. You also have to carry a higher level of debt which results in more interest costs.
If you sell first you might be under pressure to buy, or you may have to rent for a while if you cannot find the right house, that means moving twice.
There is not right or wrong way to do this, at MortgageMe we will step you through the options, point out the risks and advise on what is right for you based on your situation.
How much do I need to get from the sale of my house?
The most you can!! When buying your next home its ideal to get at least 20% deposit from the sale for the next purchase, but if you can’t there is still options for you. If you think you are going to end up with less than 20% deposit (or close to it) then its best to get the loan preapproved by us so that you don’t end up selling your home only being left unable to finance another.
How do I save money?
There are lots of ways you can save money on your home loan, a lower interest rate is one way. The real savings come when you look at paying a few extra dollars off you loan each week.
How do I get the best deal?
If you dealing directly with the bank it is always hard to know if the deal you are being offered is the best deal in the market. Most people arrange a home loan only a handful of times in their lives. At MortgageMe we are arranging hundreds of customer loans a year, we know what the best deals look like and we know how to handle the banks.
I have been declined for a loan, what do I do?
Don’t panic, just because one bank has declined you does not mean they all will.
Every bank has different lending policies, at MortgageMe we know what they are and can quickly move your application to the bank that gives you the greatest chance of being approved.
We are also experts at thinking outside the square, something that a lot of banks don’t do so well.