New Home Loans
Want access to the best home loans in Melbourne?
Clark Finance Group can help you find your next home loan while you prepare to move into your new forever home.
Want to Buy a New Home?
Your first property was a step in the right direction, but there will come a time when your growing family is ready to relocate to a new area or find your ‘forever home’.
And while the idea may seem easy enough — packing up and moving into your new home — there are a few things you need to get sorted, like your new home loan.
The transition to buy your next home is a process that involves a number of decisions.
For example, should you:
- Sell then buy?
- Buy then sell?
- Buy, then rent out your current home as an investment property?
Fortunately, Clark Finance Group is here to help. Our specialty is finding competitive home loans for our clients, offering loan options that cater to those seeking new home loans, first-home buyers, SMSF property buyers, investors and refinancers. Book your first consultation to get started.
Let’s Plan Your Next Move
If it’s your first time using your mortgage broker, you might not know what to expect. When you work with us to buy your new home, you’ll benefit from personalised advice as we explore:
- How much you can borrow
- What your home loan repayments will look like
- Bridging loans
- The costs of owning two properties
Our experts will make your transition hassle-free by reviewing every option and working with you to lock in a strategy. We make home loan hunting easy, acting on your behalf to secure the most competitive offer for your circumstances.
How It Works
Ready to upgrade your home loan? Here’s how we do it.
Our process involves an in-depth discussion before we research all the options available to you and manage the process of applying for a new loan from start to finish. We’ll ask you a few basic questions, like how much you’re looking to borrow and for how long, what your current budget looks like and what you intend to do with your current property.
You can rely on us to let you know what you will need when you apply for your loan. We will also liaise with lenders on your behalf.
Once your home loan is approved, our team will get to work on the settlement process and support you all the way, until you get the keys to the door.
Book a call to get started.
Experienced Melbourne Home Loan Specialists
At Clark Finance Group, we only specialise in home and investment loans.
This allows us to maintain a consistent approach and focus on education, professionalism and long-term relationships. We understand how complex the home loan market can be for buyers and sellers, which is why we aim to keep the process as simple and hassle-free as possible.
We are based in Melbourne but can support clients from all over Australia.
FAQ's
A new home loan refers to the mortgage taken out to purchase a new residence while selling your existing one. It differs from other types of mortgages that may focus solely on purchasing a property without the condition of selling another. This type of loan often involves coordinating the sale and purchase timing to ensure financial stability for the buyer and a seamless transition between homes.
Deposits required for new home loans typically range between 5% and 20%. However, many lenders prefer borrowers to have a 20% deposit, as they are deemed to be more credible applicants. While you are able to apply for a new home loan with a deposit below 20%, you will be required to pay for Lenders Mortgage Insurance (LMI), an insurance that covers the lender in the case of non-payment.
These days, Melbourne home loans offer a range of features that can help you keep costs low and provide greater flexibility with your repayments. For instance, having the ability to make extra repayments to your loan can help you pay your loan off faster and reduce your interest. Many new home loans also offer a redraw facility or offset account, giving you more control over your funds.
Yes, you can negotiate the terms of your new home loan to secure better rates or features. But the best part about working with Clark Finance Group is that we’ll do this for you! As part of our service, we leverage our expertise and industry contacts to effectively negotiate with lenders on your behalf to secure the most competitive rates.
The mortgage approval process with Clark Finance Group typically takes 3 to 10 days depending on the lender chosen. This timeline can vary depending on the complexity of the borrower’s financial situation, the type of loan being sought and the lender’s specific requirements and processing times.
Loan Options
Get in touch
More information?
Book a free consultation
support@clarkfg.com.au
Phone 1300 366 670
