BUYING A HOME
Buying a Home
Already owned property before? Whether you’re upgrading, downsizing or moving to your next home, Jimmy can help you understand your borrowing position, loan structure and how to fund the move.
YOUR QUESTIONS, ANSWERED EARLY
The questions worth asking first.
How much can I borrow for my next home?
The assessment needs verified income, expenses, debts, credit limits and details of the proposed move. A property’s equity alone does not establish borrowing capacity. Jimmy can help you organise the information for a lender assessment.
Do I need to sell my current home first?
Selling first can clarify your available contribution, but may mean arranging temporary accommodation. Buying first requires a plan for funding and holding costs while the sale is pending. Compare both pathways before committing to purchase dates.
Can I buy before I sell with bridging finance?
Bridging finance may be an option for some moves. Availability depends on the lender’s assessment, the properties, equity, commitments and sale plan. Review the interest, fees, time limits and what happens if the sale is delayed or the price is lower than expected.
Can I keep my current home as an investment?
This needs a review of the existing loan, proposed rent, ongoing costs and the new home loan together. Speak with your tax adviser about the change in use and with your solicitor about any legal implications before choosing the structure.
How much deposit or equity can I use?
The usable amount depends on valuation, existing debt, lender criteria and your borrowing position. Allow for purchase and sale costs and a cash buffer rather than treating all equity as available spending money.
Should I arrange pre-approval before making an offer?
Conditional pre-approval can help frame your search, but it is not a guarantee. The selected property, valuation, updated financial information and final lender checks still need to be satisfied.
YOUR DECISION, CLEARLY FRAMED
What matters before the application.
Buying your next home is about more than the new loan. Your current property, available cash or equity, existing commitments and the timing of both settlements need to work together. Start with a plan for selling, retaining or moving out of your current home before committing to the next purchase.
WORKING WITH JIMMY
What the first conversation is like.
Can I talk before I am ready to apply?
Yes. You can start with questions, an early borrowing conversation or incomplete documents. The first step is to understand where you are now and what would make the next decision clearer.
Will my details be sent to a lender straight away?
No application is lodged without your agreement. Jimmy first reviews the situation, identifies missing information and explains the proposed pathway before you decide whether to proceed.
Will I deal directly with Jimmy?
Yes. You speak directly with Jimmy about the lending strategy, application questions and progress rather than being passed between a sales team and a call centre.
What will the service cost?
Any fee payable by you and any lender-paid commission arrangements will be explained before you proceed. Fees can differ for residential, commercial, business, development and specialist work, so the applicable terms need to be confirmed for your matter.
How long will it take?
Timing depends on the lender, valuation, document quality and complexity of the transaction. Once the pathway is clearer, Jimmy can explain the current requirements, likely sequence and any deadline risk that needs attention.
HOW JIMMY CAN HELP
A practical path from question to next step.
Review your borrowing position and the cash or usable equity available for the purchase.
Compare selling first with buying first, including whether bridging finance is worth assessing.
Consider the lending implications of retaining your current home as an investment, alongside advice from your tax and legal advisers.
Explain loan structure and conditional pre-approval, then coordinate the application and lender requirements through settlement.
WHAT TO PREPARE
A useful first conversation starts with a few facts.
- Income evidence, living expenses and existing credit limits
- Current property value estimate, loan and offset balances
- Available savings and an allowance for buying, selling and moving costs
- Your target purchase budget, sale plans and settlement dates
Please do not send identity or financial documents through the website enquiry form.
WHAT HAPPENS NEXT
One clear step at a time.
Map the move
Bring your current home, proposed purchase, available contribution and preferred timing into one picture.
Compare the pathways
Review the funding gap, repayments, lender requirements and what happens if your sale takes longer than expected.
Prepare for purchase and settlement
Organise the application, clarify any pre-approval conditions and coordinate the lender steps with your conveyancer or solicitor.
CLEAR EXPECTATIONS
Useful guidance without overpromising the outcome.
A moving-home plan needs verified financial information, property assessments and a realistic sale and settlement timetable. Bridging finance and other lending options remain subject to lender criteria and approval. Obtain tax and legal advice before changing a property’s use or ownership arrangements.
START WITH YOUR POSITION
Bring the facts.
Leave with a clearer next step.
Or call Jimmy on 0411 337 262