Next Home Loans

Looking to buy your next home or renovate your dream one? Make the move to your next home with a mortgage broker by your side.

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The next home

loan process.

From bridging loans to general moving tips; here’s a breakdown of how we will help you buy your next home.

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List of Services

1. Say hello
It all starts with taking about one minute to answer a few simple questions right here. When you’re done, we’ll meet to talk about your goals, opportunities and next steps, in person or online.

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2. Your goals
Once we know what you need, we’ll research over 60 banks and lenders to find you a competitive rate. We’ll even provide a written recommendation on the loans that fit your needs, just for you.

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3. The nitty gritty
Paperwork is our job. Once you’ve chosen the lender, we’ll work with them to package, sign and lodge documents to get you ready for pre-approval.

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4. Formal approval
Moving is painful enough, so once you’re approved, we'll make the transition from your current loan to new loan as pain free as possible. A valuation will then take place on your new home, insurance details provided and a settlement day will be scheduled.

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5. Settlement
In this final stage, we’ll coordinate the lead-up to settlement where the funds from your new home are used to pay off your current loan. We’ll liaise with your existing and new bank and if you’re borrowing any extra cash, it will be ready to go. A solicitor or conveyancer is still involved here to change the lender name on your paperwork.

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6. Moving without the hassle
Thought of moving already stressing you out? Fear not. When the big day (or days!) come we can organise for a trusted team of experts to be at your side to take care of it for you. We also have partners who can help get your connections set up too, so you can sit back and take in the new view.

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Loan types and features.

There are a number of loan types and features that you might want to consider for your new home loan, scroll through some of the options below to get a better understanding of what the differences are. We’re here to answer your questions when you’re ready.

Variable rate loan

As the name suggests, the interest rate can change over the life of the loan. This gives you flexibility, but can also leave you open to rate rises. These loans offer more flexible features like unlimited additional repayment, redraw, and offset account.

Fixed rate

Basically, this is the opposite of a variable rate loan. Your interest rate and repayments will stay the same during the fixed term, no matter what. So no surprises.

Split loan

You're able to fix part of your loan, while leaving the rest variable.

Packaged loan

Professional packages offer discounts on standard variable and fixed rates, the waiving of fees, and in some cases, great deals on other products from the same lender. A packaged loan usually comes with one annual fee for the bundled products.

Bridging loan

If you already own a property, this is a short term loan that can help you finalise the purchase of your new property before you've sold your existing one.

Line of credit loan

This gives you flexibility and easy access to cash for renovating or investing. It lets you draw against the loan balance, up to a credit limit set by the lender.

Interest only loans

As the name suggests, you only pay the interest on the principal balance for a set term, with the principal balance unchanged.

Construction loan

If you want to build a home this is your loan. Most construction loans are interest only for the first year while the build is underway and interest is charged on the amount you draw down on from the loan for building repayments.

Calculators.

Use these calculators to help you understand your borrowing power and calculate how much stamp duty you might need to pay.

FAQs for next

home loans.

We’ve got your questions covered.

What happens to my mortgage when I move house?

Generally you have two options for switching your current loan. You can either refinance with the same lender (or a new lender) or pay out the existing loan and take out a new one with your new property. We can help you determine what you can afford and which option may be right for you.
How does a bridging loan work?

A bridging loan helps you purchase a new home whilst you wait for a buyer to purchase your current one. The loan works by covering the cost of your new property with the idea that this debt will be paid off when your old property sells.
What is the difference between a fixed rate vs a variable rate?

Typically, variable rate home loans offer flexibility whilst fixed rate loans offer predictability. Get in touch with me today and I can help explain how each could benefit you.

Ask us a question. We're here to help!

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Lilem Pty Ltd (t/as Logan Home Loans) ACN 648695505 is authorised under LMG Broker Services Pty Ltd Australian Credit Licence 517192.

The information provided on this site is on the understanding that it is for illustrative and discussion purposes only. Whilst all care and attention is taken in its preparation any party seeking to rely on its content or otherwise should make their own enquiries and research to ensure its relevance to your specific personal and business requirements and circumstances. Terms, conditions, fees and charges may apply. Normal lending criteria apply. Rates subject to change. Approved applicants only.

¹There may be occasions where you may be charged a fee by your broker.

²Your broker is able to assess each lender's approval times and identify those that can provide approval quickly, however this is subject to change and can vary significantly based on how complex is your loan application and how quickly you’re able to provide the information we need.

³Not all lenders are available to all brokers. The exact details of the lenders your broker has access to is disclosed within the Credit Guide your broker gives to you when providing credit assistance or is available upon request.

⁴The way in which your broker will stay in touch with you will differ, however typically this will be via email. In addition you will be able to contact them for guidance as required. You are able to opt out of these communications at any stage.

**There may be occasions where you may be charged a fee by your broker.