Selling one house and buying another is a tricky thing to do at the best of times.
That's because unlike when you were arranging your first home loan, you now have to juggle two properties – and even the best juggler would appreciate an extra hand!
In brief: you need to find a buyer who is willing to give you the right price, find a new home and vendors that will accept what you are willing to offer, and then hope that everything falls into place.
And that 'everything' can mean a lot of different things! Managing the finances of a home sale and purchase simultaneously demands extra special care.
You still need to ensure that you compare home loans thoroughly and harness your borrowing power to your best advantage.
This is where a mortgage adviser can step up to the plate and help you to put all the pieces of the puzzle together.
They've been through this process many times before with clients so you will immediately benefit from their knowledge and experience at preparing for every step.
For instance, what happens if you need or wish to buy a new property before you sell your old one?
In these cases, you may need to arrange a bridging home loan. An adviser can show you exactly how to do so and how to find the right finance product for you.
They'll help you with each aspect of the loan application process and with many other things besides, such as ensuring you have adequate finance to cover all the costs of moving to another property.
This means you can confidently plan your move and rest assured that even though selling and buying a property at the same time is some feat, you've got expert advisers helping you every step of the way.
You can contact a Smartline Mortgage Adviser on 13 14 97 for home loan advice. Or complete our call request form and we’ll call you!
DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.