Home to Home Loans

With a home to home loan, you can buy or build a new home before selling your old one, without paying two mortgages at once. Instead, you use the equity in your existing home to finance your new one.

Pros — What’s good about a home to home loan?

• Buy or build before you sell. You can buy with confidence, even if you haven’t sold your current home.
• No need to rent. You can stay in your existing home until your new home is ready to move into.
• Rising market values. If the housing market improves during the months you’re holding onto your existing property, its value could go up substantially.
   

Cons — What’s bad about a home to home loan?

• Falling market values. If the housing market declines during the few months while you’re holding onto your existing property, its value could go down somewhat.
• Capitalised interest. The interest you would normally have to pay on the second property gets capitalised (added to the total sum of your loan), but you need to offset this against your moving and renting costs if building.

Still have questions about home to home loans?

If you have any questions about home to home loans that aren’t covered above (in fact, even if they are!), please feel free to give us a call on 1300 883 292 or enquire below, and we’ll call you.