Mortgages
Buy Your Next Home
Ready to take the next step in your home ownership journey? Whether you’re upgrading for more space or relocating to a better school zone, we can help you find a mortgage that fits your evolving lifestyle and goals.
Talk To An Expert
Tips for Buying Your Next Home
Make your next home purchase smooth and strategic with these key considerations.
Understand Your Equity:
Your home equity can significantly impact your buying power—let us help you calculate it.
Plan Your Sale and Purchase Timeline:
Timing is crucial to avoid financial stress.
Evaluate Your Budget:
Factor in moving costs, potential renovations, and changes in loan repayments.
How Plaxo Mortgage Advisers Can Help
We make moving up easier and less stressful by providing:
Equity Assessment:
Use the equity in your current home to help fund your deposit or secure better terms.
Bridging Loans:
Need funds between selling your current home and purchasing a new one? We'll guide you through bridging finance.
Mortgage Restructuring:
We'll assess whether restructuring your current loan could free up funds or make repayments easier for your next purchase.
Access to a Wider Range of Lenders:
With our extensive lender network, we can help you access competitive rates or suitable lending products for your changing needs.
Tailored Advice:
Whether you're keeping your existing property as an investment or selling it, we'll help create a plan that works for you.
Questions & Answers
01Should I sell my current home before buying a new one?
It depends on your financial situation and market conditions. Selling first provides certainty on your budget, while buying first may work if you secure bridging finance. We can help you assess the best option for your circumstances.
02Can I keep my current home and turn it into a rental?
Yes, if you have sufficient equity and income to manage both mortgages. We'll help you explore this option and structure your loans accordingly.
03How can I pay off my mortgage faster?
Paying off your mortgage faster can save you significant interest over time. Here are some tips:
- Make Lump Sum Payments: Use bonuses or savings to make additional payments directly to your principal.
- Increase Your Repayment Amount: Slightly higher regular payments can reduce your loan term.
- Switch to Fortnightly Payments: Paying half your monthly repayment every two weeks results in an extra month's repayment annually.
04How can I manage higher interest rates?
Rising rates can be challenging, but there are ways to stay on top:
- Refinance for a Better Rate: We can help you compare lenders to find a more competitive deal.
- Fix Part of Your Loan: Fixing a portion of your mortgage provides stability in repayments.
- Review Your Budget: Small lifestyle changes can free up extra funds for repayments.
05How can I refix my mortgage strategically?
When refixing, consider:
- Current Market Rates: Lock in rates that align with your financial goals and risk tolerance.
- Split Your Loan: Combining fixed and floating rates can offer flexibility and cost savings.
- Review Your Term: Shorter fixed terms can allow you to reassess sooner, while longer terms offer stability.
Start Your Journey
Let's Find Your Next Home Together
At Plaxo Mortgages Ltd, we understand the unique needs of second-time buyers. Contact us today and let us help you take the next step with confidence.