FAQ

Found your next home, but haven’t sold your current one? Bridging finance could help you buy first and sell later.

It’s short-term lending that covers the gap between buying your next property and selling your current one.

Your lender assesses the debt across both properties. Interest may be paid monthly or added to the loan, depending on the lender.

When your old home sells, the net sale proceeds reduce your debt. Any remaining balance becomes your ongoing home loan.

You’ll need enough equity, lender approval and a clear sale plan. A delayed sale, or lower price, can increase costs.

Talk to JLC Financial Group to explore whether bridging finance suits your next move.

Ready to buy a home? A mortgage is a loan secured against your property. Here’s how it works.

You contribute a deposit, and borrow the balance. Budget separately for purchase costs, like stamp duty and legal fees.

With principal and interest repayments, you pay back what you borrowed, plus the cost of borrowing, over an agreed term.

Fixed rates offer repayment certainty for a set period. Variable rates can move up or down. Features and fees vary.

Keep repayments affordable. If you default and cannot resolve it, your lender may sell the property to recover the debt.

Talk to JLC Financial Group about a home loan that suits your goals and budget.

Heard of negative gearing? For a borrowed rental investment, it means deductible expenses exceed the rental income.

Imagine rent of thirty thousand dollars a year, and deductible expenses of thirty-five thousand. That’s a five-thousand-dollar rental loss.

Eligible loan interest and property costs may count. Loan principal repayments don’t. Capital purchases follow different rules.

Any tax benefit depends on applicable rules and your circumstances. It doesn’t cover the whole loss or guarantee investment returns.

Allow for vacancies, repairs and interest changes. Tax rules can change, so ask your accountant what applies to you.

Talk to JLC Financial Group about investment lending, and get personalised tax advice from your accountant.

Looking for your next home? Pre-approval gives you an indication of what a lender may be prepared to lend.

The lender reviews information such as your income, expenses, debts and deposit. The level of assessment can vary.

Pre-approval is conditional. It’s not final loan approval or a guarantee that every property will qualify.

Your chosen property, its valuation and your financial circumstances still need to meet the lender’s requirements before final approval.

Pre-approval expires, with timing set by the lender. New debts or changes to your income can affect your application.

Talk to JLC Financial Group about pre-approval, and understand your finance conditions before signing or bidding.

Lenders Mortgage Insurance, or LMI, protects the lender if you default and the property sale doesn’t repay the loan.

It’s commonly required when borrowing more than eighty percent of a property’s value. Lender policies and exceptions vary.

The borrower usually pays the premium. It may be paid upfront, or added to the loan if approved, increasing interest costs.

LMI isn’t mortgage protection insurance. It doesn’t cover your repayments, and you can still owe a shortfall after a sale.

A larger deposit, eligible government support or lender exceptions may help avoid LMI. Eligibility and costs need checking.

Talk to JLC Financial Group to understand LMI, compare your options and plan your next home purchase.