How much can you afford

Your financial situation has most likely changed since you purchased your first home: a larger family, greater level of debt, higher income and investments or equity in your current home. All these personal aspects will affect how much you can borrow and subsequently spend on your new property.  Our Home Loan Borrowing Calculator will help you work out your potential borrowing power.

It’s also important to budget for any upfront expenses involved in your move. Below is a list of potential cost that could be incurred:

  • Stamp duty and government charges, use our stamp duty calculator
  • Loan establishment fees
  • Legal and conveyancing fees for both buying and selling
  • Removal expenses
  • Real estate agent fees for your existing property
  • Building and pest inspection
  • Connection of utilities – internet, electricity
  • Updating your home and contents insurance
  • Lenders’ Mortgage Insurance (LMI)
  • Costs to get your existing property looking its best for the market

Moving home is the perfect time to assess the suitability of your current lender or simply force the hand of your existing lender to reduce your interest rate. Why not make a good decision to shave a couple of points off your home loan rate? We find that lenders are more opt to discount their rates for new borrows. Let us help you negotiate. We do it often and we’re good at it!  Make an appointment with one of our expert mortgage brokers to discuss your options.  We can also arrange a pre-approval so you are confident of how much you can afford to spend on the new property.

Speak to a broker today

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Or call 1300 36 36 99