Buying your next home

Whether it's an upgrade because of an expanding family, a downgrade after the kids leave home or it's your next renovation project, buying your next home is a major change in your life.  The search for the right property is a major milestone.  But before you take that next big step, it is important to make sure that your finances are in order.  Take the time to research your options as this can save you both time and money.

Vision's Finance Partners compare loans from Australia's largest selection of lenders and aim to grow with you during your property investment journey, making it faster and easier to secure your dream home.

Your Journey

When you first meet your Vision Finance Partner, you'll be asked a number of questions about your goals and financial aspirations; as well as questions about your financial position.  It's best to bring as much information as possible to the first meeting which, if possible, should include copies of pay slips as proof of income, bank statements as proof of savings, your tax file number, your drivers licence and latest tax returns.  In particular, any documentation which you have available on your current home loan, such as the statements and the original loan contract will be invaluable.

Your Finance Partner will help you choose an option best suited to your requirements and will look at things like monthly repayments, interest rates, exit fees on your current loan, bridging finance, value added features such as redraw facilities and how much you can borrow from each lender.  Once the best possible fit has been found, your Finance Partner will prepare the necessary forms for approval by the lender and will guide you step by step through the remaining process.

Lending Pre-Approval

If you haven't found the perfect home, your Finance Partner can arrange pre-approval giving you the peace of mind of knowing exactly how much you can borrow.  In such a competitive housing market, this will give you a head start on other purchasers and can even broaden your options to attend auctions.

First Home Incentives & Costs

In some limited circumstnaces you may still be eligible for the First Home Buyers Grant.  You may have already owned a property in Australia, but if that property was purchased after 2000 and you have never occupied it, then it is an investment property and you may still be eligible for the First Home Buyers Grant and other incentives. 

Your Finance Partner will help you to find out what your options are.

The Real Costs of Buying and Selling a Home

Break Loan Fees or Deferred Establishment Fees are very common today.  Your Finance Partner will help you to work out what it will cost you to leave your current loan.

Apart from stamp duty (also known as transfer duty) and Lenders Mortgage Insurance, there are a number of additional expenses you should consider when buying your next home.  Costs include loan establishment fees, solicitor/conveyancing fees, building/council inspection, pest inspection, home and contents insurance, rates adjustments, moving expenses and utility connections.

Bridging Finance

Sometimes there can a period of overlap where your previous home has not yet been sold and your new home is ready to go.  In those circumstances your Finance Partner can arrange Bridging Finance to help you to move into your new home sooner.

Do you need to sell your previous home?

It is well worth exploring the option of whether you can afford to keep your existing home as an investment property and still buy your next home.  Your Finance Partner can provide you with a complete estimate of what it would cost to do this. 

Where to from here?

While there are many online calculators available, they do not take into account all of your individual circumstances.  We have a very short online enquiry form which will ask you some very basic questions and then organise for one for your local Finance Partner to contact you.  By completing this quick form your local Finance Partner will already have completed some preliminary investigation before they call you, enabling you to be better informed quickly.

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Contact your local Vision Finance Partner on 1300 797 144 or  This e-mail address is being protected from spambots, you need JavaScript enabled to view it    to arrange an obligation free appointment.

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