Step 1: Consider what you’ll do with your current home

Buying a house, applying for a mortgage and going through settlement - you've done it all before. But now that you already have a home, there's a few extra things to consider when buying your next property:

  • Using your home as an investment property - depending on how much equity you've built up in your current home, you may be able to put it towards the deposit of your next home, if you convert your current home into an investment property. This is a complex situation and you should consider getting financial advice before deciding whether it's right for you.
  • Buying or building a new house before selling your existing one - If you've found your next home, our Bridging Finance Loan will help you purchase your new house while you're waiting for your current one to be sold.
  • Selling your house before buying a new one - Putting your house up for sale before buying your new one will avoid the cost of two mortgages, but you will need to arrange for a place to stay once your house is sold.


Step 2: Work out your borrowing power

As with any home buying journey, you will need to work out how much you can borrow for your second home. Use our handy tools to work out how much you can borrow, what your repayments will be and work out a budget.

Be aware of other costs

As you may already know, buying a new home comes with additional costs. These include:

Stamp Duty Use our Stamp Duty Calculator to work out how much stamp duty will be payable on the purchase of your home.
Lender's Mortgage Insurance Required if you are borrowing more than 80% of the purchase price.
Legal fees For completing conveyancing and title searches on your home.  This cost varies depending on the Conveyancer and the property searches you require, but can be around $1,500 - $2,500.
Building and Pest Inspection A report on the structure and condition of your home.  This cost varies depending on the Building and Pest Inspector, but can be around $400 - $700.
Home and Contents Insurance Have peace of mind about your biggest asset. See our Home and Contents Insurance options.  
Property Valuation An independent valuation of your home.  Some of our home loan products offer a free residential valuation.  Enquire with your lender about valuation costs.
Moving Costs Hiring removalists or a truck to help you move into your new home. 

Step 4: Choosing your next home loan

To help you prepare for changing life circumstances now and in the future, it's worth considering features which will add flexibility to your home loan. Our home loan experts can help recommend the best home loan for your individual circumstances to suit your needs and your lifestyle.

Interest rate

Do you need the flexibility of a variable rate or certainty of fixed loan repayments or would you like to combine them?     

Mortgage offset

Reduce the interest on your home loan with a mortgage offset account.    

Redraw facility

Access any extra repayments on your home loan when you need it.    

Additional repayments

Helps you to pay off your home loan sooner.    

Flexible repayments

Make weekly, fortnightly or monthly repayments to suit your budget.    

Our most popular home loan products


Know what your repayments are for peace of mind

Fixed Rate Home Loan

A fixed rate home loan gives you the certainty of knowing exactly what your repayments will be for up to 5 years, while protecting yourself against any potential interest rate rises.

  • Owner occupier and investor options available
  • Great interest rates across our range of terms
  • Principal and interest, or interest only repayments

Our most popular low rate loan, packed with features

Clear Path Variable Home Loan

If you're looking for a fully featured, cheap home loan with a low rate, our Clear Path Variable Rate Home Loan is for you!

  • Owner Occupier and Investor options available
  • Mortgage offset
  • Flexible repayments

Save with our lowest home loan interest rate

Economy Variable Home Loan

Getting a cheap home loan doesn't mean you have to compromise on its features.

  • Owner Occupier and Investor options available
  • Free redraw
  • Unlimited additional repayments

Step 5: Buying your next home

Once you've found the perfect next home and you've agreed on a price with the seller, it's time to apply for your home loan. Why not have a chat to one of our home loan experts today to start the process?

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