Buying Your Second Home:
The Ultimate Guide

Are you thinking about buying a second home in Brisbane?

Perhaps you’re looking to move to a bigger home or you’re getting ready to downsize. Maybe you want to move to an area that is closer to work or school. Or you may be realising your long-awaited dream of buying an investment property in Brisbane.

Whatever your reasons for buying another property, North Brisbane Home Loans is here to help. As a top-rated mortgage broker in Brisbane with over 100 years of combined experience, North Brisbane Home Loans are the ideal choice for anyone planning to buy their next home.

Buying another property:
an overview

While there are many different reasons why homeowners may choose to buy another property, they will often have one thing in common…a lot has probably changed since they bought their first home.

Change in life is inevitable. Your financial circumstances may have changed, your family situation could be different, or you might have swapped from working as an employee to being a self-employed business owner (or vice versa). All of these changes could have a significant bearing on your borrowing potential.

This means that the home loan product you have now may not be the best choice for financing your next home purchase. How do you find the right loan to suit your current circumstances? Start by talking to an experienced mortgage broker.

In this video, our founder and CEO, Patrick Cranshaw, will share answers to some of the most common questions asked by those applying for a mortgage when buying their next home. He’ll also outline the various ways next home buyers can receive assistance from one of the experienced mortgage brokers at North Brisbane Home Loans.

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Should I Buy A Second House?

Most of our clients who need a mortgage to finance a second home are looking at upgrading in one way or another. Because of this, they’re often looking for expert advice on the different ways they can capitalise on their next purchase.

Questions we are often asked by homeowners looking at buying a second property include:

  • Is it possible to keep my existing home and use it as an investment property?

  • Can I use the equity in my current home to finance the purchase of a new property?

  • How does bridging finance work?

There are many reasons why people look into financing a second home while still holding on to their first house. This is often the case for those who want to build an investment portfolio or anyone planning to buy a holiday home.

Ultimately, your personal circumstances and current financial situation will determine what options are available to you when buying a second property. That’s why the best thing you can do is talk to a mortgage broker for some tailored advice.

It’s a good idea to chat with us as early as possible in your decision-making process. This will allow us to answer all of your questions and provide helpful tips on how to optimise your borrowing capacity. Our experienced mortgage brokers can help you understand everything you need to know about financing your second home, whether you’re planning to keep your first property or you’d rather sell your first home and use those funds to finance your second.

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Need More Space

Most people buy another home when they start outgrowing their first one. This often happens when the family starts to get bigger or they need different property features, such as a larger backyard.

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Home Upgrading

Many first home buyers focus primarily on affordability. But as they’ve built up equity or progressed in their career, they may now be looking for a newer home with upgraded features.

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Another common reason for a second home purchase is relocation. Changes in employment or educational opportunities may result in a daily commute that is no longer feasible or too much hassle.

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When adult children start to leave home it’s common for homeowners to think about downsizing. Retirement is another reason many choose to downsize since a smaller home is easier to maintain.

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Family Needs

A second home can help to meet the needs of an extended family. Parents may buy a house to rent to adult children or elderly parents may purchase a second property to maintain independent living while moving closer to family assistance.

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One of the most common reasons why people buy a second property in addition to their current home is for investment purposes. This second home can be rented out to generate a source of income.

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Holiday House

The number of Australian holiday homes has increased post-pandemic, with more people than ever seeing the appeal. Holiday home ownership has also increased thanks to the popularity of short-stay rentals.

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Retirement Plan

Savvy retirement planning can enable a homeowner to purchase their retirement property in advance. They can gradually pay off the mortgage and have a place ready for retirement, potentially saving on future housing costs.

Financing Your Next Home

Buying your next home can be a really exciting process, but it can also be more complicated than buying your first home. Why is that? Because buying a second home raises a lot of unique questions. For example:

Do you want to keep both properties?

Will you be buying first and then selling your current home?

If so, how will you finance that process?

Or are you planning to sell your current home first and temporarily live elsewhere while you finalise the sale of your next property?
Buying your first home is often a very straightforward process but buying your next home (and figuring out the best way to finance it) can feel overwhelming for many homeowners.

This is why it makes so much sense to partner with an experienced team of brokers once you’re ready to start planning the purchase of a second home. Our knowledgeable mortgage brokers will be able to talk you through the entire process step-by-step, ensuring that nothing gets overlooked along the way. We’ll be able to discuss your current situation and future financial goals and then determine which mortgage products would be most suitable for your needs.

Offering tailored advice coupled with prompt and professional service, North Brisbane Home Loans is the ideal choice for homeowners in Brisbane looking to buy their next home. Contact our friendly and professional team for a free consultation on a second home mortgage or for some expert advice on buying your next home!

How Does Equity Work When Buying a Second Home?

Equity refers to the difference between what your property is currently worth and the outstanding balance of your mortgage. In other words, equity is the portion of the property that you already own outright. So, how does equity work when buying a second home?

In Australia, equity can be leveraged to finance other purchases or investments. This means that homeowners can use the equity they’ve built up in their first home to fund the purchase of a second property.

For example, let’s say you own a home in Brisbane that is currently valued at $700,000. Because you still owe $400,000 on your mortgage, you have $300,000 in equity ($700,000 – $400,000 = $300,000).

Now, you’ve been thinking about buying a second property, perhaps as an investment or to use as a holiday home. Rather than having to save up hundreds of thousands of dollars, you can use the equity in your current home ($300,000) as a deposit for a mortgage on the second property.
Using equity to buy a second property comes with some serious advantages, including access to lower interest rates and increased borrowing capacity. However, as with any large financial purchase, it’s essential to carefully consider all the potential costs and risks before you decide to go ahead with a purchase. This will ensure that you can successfully balance the cost of your second mortgage while still servicing your current home loan.

It’s also worth noting that lenders in Australia typically have specific criteria for using equity to purchase a second property. This may include requirements for a minimum level of equity and an assessment of your ability to service both mortgages. Consulting with a mortgage broker can help you navigate this process successfully and make informed decisions about using your equity to buy a second home.

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Should You Sell Your First Home Before Buying Another Or Vice Versa?

To sell or not to sell — that is the question.

Financing your next home requires a lot of careful consideration. While there are many different paths and outcomes to choose, finding the right home loan will ultimately come back to one important question: Are you buying and then selling, or selling and then buying?

To help you get started, we’ve broken down some of the main advantages and disadvantages of selling before buying compared to buying before selling.

Advantages of Selling Before Buying
  • Knowing exactly how much you can afford to put towards your next home purchase.
  • Having plenty of time to choose which property you want to buy.
  • Being 100% happy with the sale price of your first home (since you won’t feel pressured to sell in order to meet settlement terms).
  • No need for a bridging loan or complicated finance processes. You can wait for funds to clear and then use these funds for your next home purchase.
Disadvantages of Selling Before Buying
  • There’s the possibility that real estate prices in your area may increase after you sell (so it will cost you more to buy back into the market).
  • Missing out on buying your dream home for the right price because your first home hasn’t sold yet.
  • Finding a buyer for your first home before you have found your second home. This could mean the additional expense of temporary housing.
Advantages of Buying Before Selling
  • A rising market could help you make more from your home sale or get a good property for a lower price.
  • There is no rush finding a new house to buy so you have something to move straight into.
  • Not having to move into a temporary housing situation (which can result in added costs in the form of rent and/or removalist or storage fees).
Disadvantages of Buying Before Selling
  • Not having money ready from the sale of your first home to use as a deposit on your second home.
  • Needing a bridging loan to finance your second home purchase. These generally come with higher interest rates and a stipulation that you have to repay the loan within 12 months.
  • Potentially having to make a higher bid on a property you’re buying while you sort out your financial situation.

What are the Benefits of Using a Mortgage
Broker When Buying Your Next Home?

When you are looking to buy your next home, finances can get complicated. This is why there are so many good reasons to use a specialist mortgage broker. Here’s a list of the top 6 benefits that come with using a mortgage broker to buy your next home in Brisbane.

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Help to Comply with Lending Criteria

Financing another home can be more complicated than a first home buyer loan or refinancing to renovate. Since you bought your first home, lending criteria may have changed. Don’t leave your mortgage approval to chance by applying directly to the lender. This runs the risk of your application being declined at the wrong time.

Expert mortgage brokers deal with a range of financial situations and lending criteria every day. Because of this, it’s worth getting advice from a mortgage broker who has experience in securing finance for a next home purchase. At North Brisbane Home Loans, our brokers understand complex criteria and can guide you through the entire lending process.


Minimise Unnecessary Lending Fees

By working with an experienced broker, you can ensure you won’t get hit with unnecessary and unexpected fees. When comparing loan products, we won’t just look at interest rates and loan features – we’ll compare the total loan product, including any ongoing fees or upfront charges. We’ll also look at any alternative options available to you.

With access to diverse lender options and honed negotiation skills, the North Brisbane Home Loan brokers can advocate for competitive terms, which will help to reduce upfront and ongoing expenses. We can also help to streamline the application process, avoiding unnecessary delays and extra costs.

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The Best Finance Solution to Suit Your Needs

YYour current bank or mortgage lender may be able to assist you with financing your next home – but that doesn’t necessarily mean it will be the best solution for your specific needs. This is because while mortgage brokers are legally obligated to work in your best interests, the bank is not.

At North Brisbane Home Loans, we have access to a wide range of lenders and loan products, meaning you’ll have a better selection to choose from when buying your next home. Our lending panel includes loan products that offer interest-only repayments, the ability to make additional repayments in the future or access to features such as an offset account or redraw facility.

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Access to Local Industry Knowledge

With over 100 years of combined experience, the brokers at North Brisbane Home Loans have an intimate understanding of the mortgage industry. This includes access to any special deals on offer, knowing which lenders are most likely to approve an application when financing a next home and understanding what kind of loan features will be most beneficial for a borrower in your situation.

As long-time residents of Brisbane, our brokers can also recommend reputable local businesses to assist with other aspects of your property purchase, including conveyancers, pre-purchase inspectors, builders and even movers and cleaners once the sale is finalised.

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Know Your Best Interests Are Being Put First

Working with an impartial mortgage broker means that you can trust the advice you’re being given for your situation. Not only do North Brisbane Home Loans abide by the Australian ‘Best Interests Duty’ policy, but we also take pride in our reputation for offering trusted advice and excellent customer service.

As accredited members of the Mortgage and Finance Association of Australia (MFAA), we’re determined to achieve the best possible outcome for our customers. The MFAA is Australia’s peak association for the mortgage industry and stipulates all members must “hold a high level of professional standing…and significant experience as leaders in the industry.”

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Saves You Significant Time and Effort

Navigating the complexities of a second home mortgage application can be a time-consuming and stressful process. At North Brisbane Home Loans, our brokers can streamline this process by handling all the paperwork, liaising with lenders and providing expert guidance on how to improve borrowing capacity.

With our extensive knowledge of the market and access to multiple lenders, we can efficiently match you with the most suitable loan options. By delegating the legwork, you save valuable time and effort, ensuring a smoother and more efficient buying experience. So, you can focus on finding your next home with total confidence in your financial choices.

Are You Ready to Buy a Second Home

Is buying a second property the right move for you to be making right now? If you’re planning to purchase an investment property, you may be giving yourself access to extra cash flow and other benefits. However, there are also potential issues associated with a next home purchase, so it’s important to consider all the pros and cons.

Buying A Second Home As A Rental – Pros And Cons

  • Extra source of income

  • Tax benefits

  • Potential appreciation of property value

  • Can be used for future retirement planning



  • Finding reliable renters

  • Struggling to sell the home, if necessary

  • Uncertainty about how much you can afford

  • Ongoing maintenance



7 Tips for Buying Your Next Home in Brisbane

Planning to buy your next home in Brisbane? Here are our top 7 tips to make the process as simple as possible.

1. Use a Local Brisbane Mortgage Broker

With online appointments and the ability to send documents electronically, you may feel that the location of your broker is now irrelevant. However, working with a local broker ensures you’re partnering with someone who’s familiar with the Brisbane property market and who has established local contacts (such as pre-purchase inspectors and property conveyancers).

A local broker will also be on hand and readily available to assist with any issues that may arise before, during and even after settlement of the new property.

2. Consider Which Mortgage Features are Right for You

Before you decide on a home loan product it’s important to consider what your short- and long-term financial goals are and whether or not your mortgage has the right features.

For example, are you planning to start renovations in the next few years? Do you want to pay off the loan as soon as possible? Would an offset account be useful in lowering interest repayments? Planning in advance will allow you to choose a loan product that includes the right features to help you achieve your financial goals.

3. Plan Ahead to Maximise Your Borrowing Capacity

Before you move ahead with applying for your next home loan there are some simple things you can do to potentially improve your borrowing capacity:

  • Make additional repayments on your current mortgage to increase your available equity.
  • Complete any needed property repairs to improve the appraisal value.
  • Obtain a copy of your current Credit Report and check to ensure everything is up-to-date and accurate.
  • Pay off any lingering personal debt, such as high-interest credit cards or personal loans.
  • Talk to a mortgage broker for tailored advice on how you can maximise your potential borrowing capacity.
4. Have a Realistic Budget

Before you start house hunting again, it’s important to know exactly what you can and can’t afford. Start by compiling a detailed budget listing all of your current living expenses. Then make a list of all potential purchase costs, including conveyancing fees, pre-purchase inspections and transfer duty costs.

Next, work out the size of your deposit, either as cash savings or in the equity that you have available in your current home.

Our brokers can help you establish a realistic budget so you know how much you can afford to borrow for your next home purchase.

5. Invest in a Pre-Purchase Property Inspection

Buying a second property, whether you are moving in or using it as a rental, is a huge investment. That’s why it’s well worth organising a pre-purchase property inspection. A pre-purchase inspection ensures that any major structural issues, water leaks or pest infestations (such as termites) are discovered before the sale is finalised.

Not only does this give you peace of mind about the property you’re buying, but if the inspection identifies any issues, you’ll be in a stronger position to negotiate the final purchase price.

6. Do Your Research

Before you commit to buying your next home it’s important to do thorough research. Look for recent market growth areas, analyse potential rental yields and check for planned infrastructure developments that may help to boost property values in the coming years.

To help you get started, we’ve put together ‘A Buyer’s Guide to Home Loans in Brisbane’ which includes helpful information on the Brisbane property market, purchase considerations and a list of top 10 suburbs for property investors to consider.

7. Use a Mortgage Broker You Can Trust

Talking to a trusted mortgage broker can reassure you that you’re getting the right home loan product to suit your unique circumstances. With over 300 online reviews and a 5-star customer rating, North Brisbane Home Loans has an established reputation as a mortgage broker you can trust.

To ensure your best interests are always put first, make an appointment with one of our dependable brokers today. At North Brisbane Home Loans, our team is committed to providing the best mortgage broker service for next home buyers.

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At North Brisbane Home Loans, our team is committed to providing the
best mortgage broker service for second home buyers

How To Get a Home Loan for Your Next Home

Sure, you’ve already done this before, but it’s still a good idea to give yourself a refresher course before applying, to make sure you qualify for your finance a second time round.

The lender will assess your buying capacity based on what you earn (income, investments, rental income, government benefits), what you own (savings, valuable personal assets) and your debts (credit cards, existing loans).

Just like when you bought your current home, you will need the following documents as proof of identification when lodging your home loan application:

Current Passport

Current Drivers Licence

Birth Certificate

Council Rates Notice

Credit or Debit Card

Current Medicare Card

At North Brisbane Home Loans, the application process for second property purchase loans usually look like this:


Chat with one of our mortgage brokers so we can evaluate your current financial situation and identify the best course of action.


We will reach out to you within a few days of our first chat to let you know our recommendations for home loan options from our panel of lenders.


Once you have chosen your preferred mortgage product, we will prepare and submit your loan application to your lender of choice for approval.


After getting approved for finance, we will help you with everything from arranging a property valuation to formal approval and booking in settlement.


It’s official! On settlement day, our team will help coordinate all stakeholders to ensure your next home purchase is completed with minimal stress and no delays.

Why Choose North Brisbane Home Loans?

5-Star Customer Rating

We put your best interests first and genuinely want to help you achieve your property ownership dreams.

This commitment to customer service has resulted in hundreds of verified online reviews with 5-star ratings. To see what our other customers think, check out our latest reviews.

Experienced Mortgage Brokers

With over 100 years of combined industry experience, our talented mortgage brokers can confidently offer expert advice on how to find the best value loan for you.

Our team of mortgage brokers in Brisbane can ensure you get the right home loan for your second property purchase.

We Work for You – Not the Banks

We don’t charge any fees for our services. Instead, we receive a standard commission from the lender.

This means we’re not financially motivated to recommend a particular lender or loan product. We concentrate on what is genuinely in your best interests.

Exclusive Partner Network

Not only do we provide you with the best advice on second home lending, but we also introduce clients to our network of trusted partners offering discounted service rates.

Save time and money by working with reliable inspectors, real estate agents, solicitors and more.

5.0 Star Reviews from
Next Home Mortgage Loan Customers


kelly dalbykelly dalby
04:21 04 Apr 24
The best customer service ever! The team is still getting us fantastic rates and deals years later after our initial consultation... without asking!! They just do it!! Brilliant to deal with and would absolutely use them again and again.
Mackenzie VandebergMackenzie Vandeberg
04:48 03 Apr 24
Pat and Fiona are a dream team. As nervous first home buyers, they stepped us through everything. They were very accessible for appointments and had frequent, open communication I needed at all stages of the process. They are thorough and experts at what they do, helping us to get into a property faster and easier than we thought possible. They also got us an amazing interest rate. Highly recommend to anyone and will definitely be using them in the future for any subsequent purchases or refinancing.
Cassidy HardinghamCassidy Hardingham
07:03 27 Mar 24
Pat, Di and Jake were amazing to work with. We are first home buyers and they really helped us through the process and took the time to explain every little detail. Very friendly and down to earth. Would 100% recommend!
Darren StonemanDarren Stoneman
07:21 25 Mar 24
Brendan helped us find a loan perfect for us and our situation. Always happy to answer any questions and was very friendly. Would recommended the team here at NBH.
Steph JessupSteph Jessup
04:53 21 Mar 24
Pat and the team helped us secure our second mortgage and could not have been more helpful. They know their stuff and go above and beyond. Would highly recommend!!
Meditech ServiceMeditech Service
12:43 15 Mar 24
Pat and his team are a league to their own, nothing but acute professional care with knowledge to match. Even with the banks being difficult they fought a good fight and got me approval. This is my 3rd mortgage with them and I won’t go anywhere elseA*
Ryan CameronRyan Cameron
05:30 08 Mar 24
Very happy with the product and service provided by these guys, would recommend/use again
Antoinette BothAntoinette Both
00:50 21 Feb 24
Exceptional service. I have used Pat for a number of years and he has always provided exceptional service. He provides clear and professional advice and always made sure the process was easy. I have used him for new mortgages as well as refinancing and every time it is seamless.I highly recommend Pat and his team to anyone looking for finance.
Chloe FosterChloe Foster
00:21 17 Feb 24
Best broker in town! . We’ve bought and sold a number of properties using other brokers, however our last purchase was the best experience we have ever had! Customer service and skill were on point and the speed and efficiency of the application was amazing. Patrick and his team went above and beyond to give us an experience that left us without stress and got us into our new home with ease. Cannot recommend these guys enough. They will have our business forever!
02:11 16 Feb 24
NBHL provide great service. They provide straightforward advice & their communication is fantastic
Ian CossartIan Cossart
05:34 11 Feb 24
We recently engaged NBHL as our mortgage broker. Could not be happier with the whole team. The process was smooth, timely and painless. They provided fantastic advise along the way and went out of their way ensuring that we understood everything. I highly recommend the team at NBHLs. They were brilliant!
Joanne NelsonJoanne Nelson
23:06 07 Feb 24
Patrick and his team are very people focused. They took the time to walk me through what can be a minefield, provided options and explained the process. I was so grateful for their updates and communication throughout the process. Knowing they were in control gave me confidence and that nothing was missed and the outcomewas exactly as discussed with no surprises. I will continue to use their services, it's a great family and local business.
Mattie RyanMattie Ryan
22:29 04 Feb 24
The best in the businessWe have bought a number of properties over the years. Pat and and the team make everything so easy for us. Pat’s knowledge and expertise has saved us so much money over the years, and we will continue to go back to NBHL time after time.
Braden TwomeyBraden Twomey
02:52 31 Jan 24
Excellent service and knowledge. Pat and Jake were able to support through the entire process and were contactable almost every step of the process. They supported my loan preferences and knew the right angles to take to ensure successful loan approval and settlement.
Elaine LawryElaine Lawry
02:24 22 Jan 24
Invaluable advice . We have engaged Pat and his team several times over the last 15-20 years, whenever we have needed to refinance. Each time the experience has been trouble free, taking all the pressure off us to wade through everything ourselves enabling us to make informed decisions about our home loans. We have even recommended Pat and his team to family members who have also had a very positive experience.
Emma EyreEmma Eyre
01:18 15 Jan 24
We highly recommend the service of Pat and the team at NBHL. Pat is extremely knowledgeable and professional, and works in an engaging and personable manner. Communication is always prompt, and we have been incredibly satisfied with the result each time we've worked with the team.
Long DinhLong Dinh
05:51 02 Jan 24
Outstanding, informative & efficient!Pat and the team have a truly spectacular and streamline business. Their secure platform, digital systems and informative communications & instruction helped us broker a competitive loan and secure a property. With how busy life can get, having North Brisbane Home Loans provide their services has been an absolute stress saver!
Mel SmallMel Small
05:24 20 Dec 23
Best in the business!I have been doing business with NBHL for quite some time as Patrick is an exceptional Mortgage Broker! He is professional, very knowledgeable, and quick to respond to any questions I had regarding my home loan, he consistently exceeds my expectations. I highly recommend Patrick and his team to anyone applying for a home loan or just wanting to refinance.
Madelinne DavilloMadelinne Davillo
23:32 18 Dec 23
We just recently purchased our first home with the help of NBHL amazing team! They have made this process so much easier due to their efficiency and outstanding communication. I cannot recommend them enough. Thank you so much Pat, Fiona and Di!
04:58 18 Dec 23
Pat and Jake helped me and my partner through so many questions when getting our first home loan! I can't imagine having a better crew on my team. I learnt so much, and felt like I had some great friends looking out for me along the way. Definitely recommend!
Andrew LawryAndrew Lawry
00:09 15 Dec 23
05:46 13 Dec 23
Excellent service, highly recommend
Ben PriceBen Price
06:22 06 Dec 23
North Brisbane Home Loans stands out as best in the business for home loans. Pat and his team’s commitment to first class service and transparent communication make them leaders in their field. Their seamless and stress-free approach ensures clients receive a second-to-none service. I confidently recommend Pat and the team at North Brisbane Home Loans. Thanks team!
Bogdan ZoloticBogdan Zolotic
06:13 01 Dec 23
Pat and Jake were amazing, really want to shout out Jake for the effort he went to making sure that everything ran smoothly I couldn’t recommend the team more they were quick and made sure to follow up on every loose end and we ended up making the deadline and securing the place we wanted, you can see why they have such good reviews, even the little care package at the end with the letter addressed to us with the gifts the reviews really do show how much the team care about the work that that they do.Bogdan & Eleanor
Kanchana MurugeshKanchana Murugesh
01:42 30 Nov 23
Immense market knowledge and very professional. He has a very good experience and knowledge on the current market. He really paid attention to every detail and updated with the info needed. Due to his timely action, we were able to buy our First Home on time. 🙂 Grateful to him and the Team.
Tim KeleherTim Keleher
04:40 29 Nov 23
Easy and stress free . My wife and I have used Patrick a number of times and this time was no different to other experiences with him. He was always on hand to answer any questions and put our minds at ease. Patrick’s technology based approach made getting all our documents from our existing bank accounts into a format required for reviewing was brilliant to use. Anyone considering a new loan I would highly recommend Patrick Cranshaw and his services.
Adrian GirgentiAdrian Girgenti
23:45 16 Nov 23
Wonderful experience with Pat, Fiona and the team at NBHL. As a first home buyer, they made it simple for me to understand and were very responsive to my questions and concerns. Thank you!
Lauren MaidensLauren Maidens
10:56 09 Nov 23
Aidan CuretonAidan Cureton
04:41 08 Nov 23
Pat and his team were a pleasure to work with while we were looking for our first home. I want to pay special thanks to Jake, who truly went above and beyond for us and was always happy to answer our questions (which there were many of)
Emilie GehrkeEmilie Gehrke
02:14 07 Nov 23
The team at NBHL have been amazing throughout our whole time with them. As first home buyers they’ve made the process a lot more easier & stress free. Huge thanks to Pat & Fiona!
Brittany AdamsBrittany Adams
12:09 19 Oct 23
Thank you Patrick, Di and team. We really appreciate all the help and information you provided us with our first home loan. NBHL made the process simple and easy to go through. You and your team were very quick to answer any queries we had and easy to get in touch with. We will definitely be using the NBHL team again in the future.I recently had the pleasure of working with Patrick again after 3 years for our refinance, and I couldn’t be happier with the experience. Patrick, Jake and the whole team were extremely knowledgeable, professional, and patient as we navigated the whole process. They took the time to understand our needs and preferences, and found us the best suited option. The use of their portals to upload information and documents is a game changer! I would also like to mention the articles in the monthly newsletters are quite in depth and have been incredibly insightful. I have highly recommend Patrick and NBHL to friends, family and colleagues. See you next time! Cheers!
Nicola BarnesNicola Barnes
22:10 12 Oct 23
Fantastic support and experience! . My partner and I loved our experience with the Brokers, they were always knowledgeable, supportive and friendly in all communications. We were a little sad to stop our regular catch ups once we had our new home!
Trish CatleyTrish Catley
04:04 12 Oct 23
I can not recommend Pat and his team enough!They went above and beyond to help us get our loan at the best deal and worked around the clock for usCannot thank then enough!
Annaliese Jade HAnnaliese Jade H
07:11 10 Oct 23
Pat and the NBHL team are so helpful and easy to deal with. I used them for my first home purchase a few year ago, and recently for a refinance. Both times they were responsive and proactive, and able to answer all our questions in easy to understand terms. I won't hesitate to use them again next time
Ellen JenkinsEllen Jenkins
09:35 07 Oct 23
Pat and his team were fantastic to deal with for the purchase of our first home. Not only were we guided to a great rate, the hassle and stress was minimised greatly! Thanks NBHL, we’re super excited to be in our first home with your assistance.
prakash nprakash n
02:43 03 Oct 23
The best mortgage broker I have dealt with. My application was not straight forward due my partner is on a different visa. I did try few other brokers before I reached out to NBHL, none of them had a correct approach or answers for my situation. But Patrick and team have experience dealing with similar situation to mine, he took time explaining every single possibility and how to approach them.Any issues you come across, they will know how to handle it.Would definitely recommend to friends and family.
Amara NAmara N
05:38 29 Sep 23
I can highly recommend Pat Cranshaw and his team for prompt, honest and professional advice. I very much appreciated Pat's knowledgeable advice on refinancing my home loan . Thank you and best wishes to Pat and his team.
Russell VosselerRussell Vosseler
08:36 25 Sep 23
Pat, Jake & their team are absolutely great at securing the best rate. I have been using them for many years now, and always consult them for refinancing every 1-2 years to check what is the best rate available to me. They are able to negotiate much better rates with the banks than if you go to the banks directly.
Lloyd FinucaneLloyd Finucane
04:48 19 Sep 23
Without pre-approval, Pat and Jake allowed us to buy ourselves the house we wanted. They managed to get us financial approval with a lender perfect for us in only 6 days.We are very happy with our experience and would recommend others to use NBHL when looking for a fast and easy borrowing experience.
Shane ClarkeShane Clarke
09:40 14 Sep 23
Highly Professional and helpful. I would highly recommend Pat and his team!! Our situation was slightly complex, however they guided us through the process and were able to achieve a successful outcome.Their professionalism and communication with us were of the highest order. I would highly recommend Pat to anyone looking for a homeloan!!
Bernadette GilliesBernadette Gillies
00:19 13 Sep 23
Seamless from start to finish! Pat and his team were amazing. The whole process was so easy and painless. The application process was seamless from the upload of supporting docs right through to the actual signing of loan application and mortgage docs. Pat and his team were there to support us every step of the way with regular contact and simple explanations. I can’t thank them enough.
Carolyn RCarolyn R
11:59 12 Sep 23
I can’t thank the team at North Brisbane Home Loans enough for getting my home loan unconditionally approved today after an unexpected last-minute hiccup. From the very first call I had with Pat, talking me through the process and various options, to liaising with Di and Jake through the pre-approval process and then having Fiona on speed dial over the past week or so, answering all my calls and diligently working to get full approval while up against the clock - everything was done promptly and efficiently, with all communications clearly setting out what was required at every stage to make the whole process seem less daunting. Nothing was too much trouble for this friendly, helpful, calm-under-fire, amazing team. Woohoo! Thank you, thank you, thank you! Team work really does make the dream work and NBHL are the dream team. Thanks again!
This is the second time we have used Pat and the team; this most recent venture was exceptionally complicated, daunting and stressful. However Pat and Jake almost made it simple. They responded to my 1000 panicked emails with patience and clarity, never sugar coating anything. All the legalities were made transparent and easy to understand. We are so happy to say as from today, this amazing team of professionals played a very big part in bringing a very traumatic previous 18 months for our family to an end, with our new home purchase becoming unconditional literally hours ago. We can't thank them enough, it's been a long journey, but we made it thanks to them. If there was an option to pop down 10 stars, we wouldn't hesitate. Thanks, NBHL
Danielle SwannDanielle Swann
06:28 26 Aug 23
Very helpful. Patrick was very professional and easy to deal with, and I felt that I could ask all the silly questions during the home loan refinancing process and get real answers and still be taken seriously. He took his time to explain my different options thoroughly, and made the process as smooth as possible once a decision had been made.
Sarah KolkkaSarah Kolkka
05:12 23 Aug 23
10/10 recommend. Pat recently helped my husband and I remortgage our home and the whole process was simple and effortless. I always felt like Pat and his team were working hard for us and we were looped in through the whole process. Would absolutely recommend 🙂
Nathan GerchowNathan Gerchow
00:11 21 Aug 23
Reanna HarperReanna Harper
00:42 11 Aug 23
Exceptional Broker and Team - Honest, Prompt and Realistic. Highly recommend Patrick and the Team he works with. Our trusted broker that we go to repeatedly for mortgaging and refinancing. Always honest and seeks products that fit primary needs, plus offers valuable and realistic advice. The only broker we refer our friends and family to! Always in touch with us on time, made refinancing easy, friendly and upfront - every member of the Pat's team answered all our questions and laid out the steps ahead well in advance of settlement. Refinancing couldn't have gone any smoother! Only praise to share. We will continue to use Pat indefinitely.
Chloe SChloe S
07:13 10 Aug 23
00:16 10 Aug 23
Great experience
Gavin ShieldsGavin Shields
23:09 08 Aug 23
Excellent customer service, advice and attention to detail.Have now used NBHL for re-financing our home loan and to purchase our investment property. Can highly recommend.
Johan Van ZylJohan Van Zyl
21:50 24 Jul 23
Luke was great. Very professional. Recommend NBL services.
Kallum FrancisKallum Francis
11:42 24 Jul 23
Luke and the team at NBHL were a pleasure to deal with throughout the entire process of buying our first home. Luke was always contactable and made the effort to answer all our queries promptly and simplify the entire journey. As first home buyers we couldn't imagine buying without the help of such a knowledgeable team that has put a great emphasis on customer care.
Royce khanRoyce khan
06:27 04 Jul 23
I am writing to express our sincerest gratitude for the exceptional assistance you provided us in navigating the complex process of securing a home loan. Your professionalism, clear communication, unwavering transparency, and adept use of technology truly set you apart.You consistently ensured that we understood each step of the home loan process. Your ability to explain complex financial terms in a simplified manner made us feel confident and empowered in making informed decisions.Moreover, your expertise in utilising technology to streamline the loan application process was truly remarkable. From secure online document submission to virtual meetings, you effortlessly incorporated modern tools into our interactions. This not only saved time but also demonstrated your commitment to staying at the forefront of industry trends, ensuring a smooth and efficient experience.Once again, thank you for everything you have done. I wish you continued success in your endeavours, and may your expertise positively impact many more individuals like myself.Well done Team North Brisbane Home Loans!!
E ViennetE Viennet
22:01 26 Jun 23
6 years ago we used NBHL service to buy our house/land package as a first time owner in Australia. Pat, Di and the team have been really professional. Everything went so smoothly. A month ago, we contacted NBHL to discuss any possibility to buy an investment property. Luke has been awesome, and went through all the options in details. Here, again the communication was great and everything went smoothly. Highly recommended.
Nicholas ThorburnNicholas Thorburn
03:24 24 Jun 23
Hassle-free re-finance. Pat and the team from North Brisbane Home Loans made our complicated re-finance very easy. The team go out of their way to ensure a smooth loan application/transfer process. Second time with this great experience from the NBHL team, highly recommended.
Alicia PharoahAlicia Pharoah
06:19 15 Jun 23
Friendly, professional service for expat loan refinancing. Pat, Di and team were incredibly helpful, patient, and flexible while finding an Aussie non-resident refinancing solution for me. These days that is no easy task!They kept me informed at every stage of the process from the solution hunting, to the decision making and throughout the closing process.Their services were invaluable and I couldn’t recommend them highly enough.
Just TeenzJust Teenz
01:23 11 May 23
I contacted Pat at North Brisbane Home Loans based on their reviews. From the minute I spoke with Pat I felt at ease with his knowledge, experience, friendliness and felt straight away that he had our best interests at heart.Pat, Di and the team at North Brisbane Home Loans are so lovely and took away a lot of the stress of the whole process by communicating regularly and by explaining in detail all answers to any questions we had. They guided us through every step of the way and now thanks to the team we are in our dream home.Thank you all so much, we are over the moon!10/10 recommend!
Celene KeepenceCelene Keepence
23:28 23 Mar 23
Pat, Di, and the team at North Brisbane Home Loans are fantastic. They supported us every step of the way in our home loan application/home buying journey, and we couldn't be happier with the service recieved. They made the process so easy for us and we will definitely use their services again. We highly recommend!
Hayden MeyersHayden Meyers
05:52 12 Feb 23
The team at North Brisbane Home Loans were phenomenal from the very first point of contact. Pat was amazing in taking us through a step by step guide on how to purchase our first home!They were extremely responsive throughout the entire process with consistent and reliable communication.Would recommend to anyone looking to get into the market with a knowledgeable Broker!Thankyou.
Laura Cromb-SmithLaura Cromb-Smith
06:47 27 Dec 22
The most amazing service from Pat & Di at NBHL. Their expertise and patience throughout the entire process made it feel easy to buy our first home. Their guidance and support was immeasurable and we couldn’t have done it without them!Thanks to the team at NBHL for everything.
Katie ChittendenKatie Chittenden
02:05 01 Dec 22
Fantastic mortgage Broker!We used Pat and his team when we originally bought our first home back in 2017, and they were so fabulous that we went back to them this year (2022) to re-mortgage and change up our home loan. They do a wonderful job - great communication and dedication to get you the best rates possible. They also fix any mistakes the bank makes for you, quickly and efficiently. Can't rate them high enough, we will definitely be going back to them in the future.
Betty VisensangBetty Visensang
21:18 23 Oct 22
Knowledgeable, Professional and CalmBack in 2021 a colleague referred me to Patrick, we weren’t ready to buy yet but wanted to meet Pat as he had helped my colleague with his family home, plus 2 additional investment properties. My colleague was so impressed by the services offered by Pat that I had to meet him for myself! He didn’t disappointment, we decided after our first meeting on a plan and locked in to touch base again in a years time!1 year later, everything was in place and Pat helped us put everything in place and we are now proudly living in our new family home!Many healthily conversations were had, and Pat is really knowledgeable but we also appreciate his cool and calm manner.We will not hesitate to refer him and North Shore Home Loans to friends and family. We will also definitely be reaching out again when we expand our investment portfolio in the future.
Brianna DobingBrianna Dobing
09:46 09 Jun 22
We had a great experience with North Brisbane Home Loans. Our broker was Luke and he was excellent in listening to what we needed and providing us with loan options that would work for our situation. We liked the videos they provided explaining the product options and recommendations. Being able to watch the videos in our own time was helpful. Fiona was amazing in collating all our information and documents and working with the bank once we did find a house. The communication and customer service was superb. I would recommend NBHL.
Rachael WishartRachael Wishart
09:28 25 May 22
The team at North Brisbane Home Loans were phenomenal from the very first point of contact. Luke was brilliant in taking us through a step by step guide on how to achieve our goals, provided us with useful resources, and was very willing to answer all questions we had as first home buyers. We had a tight settlement timeline and the team (Luke and Fiona in particular) made it appear effortless. They were extremely responsive throughout the entire process with consistent and reliable communication. We could not recommend NBHL highly enough!
Trish ChandTrish Chand
06:37 14 Mar 22
My husband and I are grateful to Luke, Fiona and the team at North Brisbane Home Loans they are absolutely brilliant to deal with.We had a very pleasant experience with Luke he took the time to investigate several different scenarios to get us the best possible product and solution. Luke and Fiona were very responsive to our queries even calling after hours when necessary. While we were first time home buyers they reassured us every step of the way, confident in their advice and decision. Their patience and willingness to walk us step by step each process over the phone was greatly appreciated.Overall a very efficient and professional organisation you won’t be disappointed.
10:57 06 Sep 21
I had an absolutely amazing experience with North Brisbane Home Loans. I was able to buy my first home with the advice, help and professional guidance of Pat and his team. I was very well looked after from the minute I reached out. Everything was handled in a very friendly, professional and timely manner. Whenever I was worried, unsure or needed assurance I was replied to promptly with everything I needed to know. The team were even willing to drive to my workplace to ensure all of my documentation could be signed and submitted promptly. I cannot recommend them enough!

Contact North Brisbane Home Loans

If you’re looking for a next home mortgage or investment home loan, the experienced mortgage brokers at North Brisbane Home Loans can help find a tailored loan solution that’s right for you.

Contact our professional and friendly team of second home mortgage brokers today!

FAQs When Buying Your Next Home

Should I buy a second home?

Buying a second home in a region with a robust housing market can be a great investment opportunity. Properties generally appreciate in value over time, meaning you should profit from your second home if you decide to put it up for rent or choose to re-sell it in the future.

However, buying a second house is a big decision, so only take this leap if you are financially ready and have spoken to a trusted mortgage broker.

How can I get a home loan for my next property purchase?

To secure a home loan for your next property purchase, you’ll need to gather necessary financial documents, such as recent evidence of your income (payslips) and current bank statements. Ensure your finances are in order and take time to research which lenders are more likely to approve a next home purchase loan.

To maximise your chances of securing loan approval, the best thing to do is talk to a professional who can help you manage your funds and liaise with your current and new lenders.

We recommend talking to one of the professional brokers at North Brisbane Home Loans for some free expert advice, formal assistance and access to all the best home loan products.

How much of a deposit do you need when buying your next home?

Most lenders will require a borrower’s deposit of at least 5-20% of the total property price. So, if you’re buying a property that is worth $595,000, you’d need a minimum deposit of $29,750 (5%).

But keep in mind that if you’re borrowing more than 80% of the purchase price, you’ll also need to factor in the cost of Lender’s Mortgage Insurance (LMI). To avoid LMI when buying a second property you’ll need to have access to a deposit equivalent to 20% of the purchase price.

What kind of loan should I choose for my next home purchase?

There is no “one size fits all” option when it comes to home loans. There isn’t even a “one size fits most.” This is why it makes sense to talk to a broker before applying for any finance.

At North Brisbane Home Loans, we take the time to talk things through, do the research and compare suitable loan products before we start making recommendations to our customers. So, our clients can rest assured they’ll get the right home loan product to suit their needs.

How does a bridging loan work?

Unlike a standard mortgage, which is paid back in instalments over 30 years, a bridging loan is designed as a short-term stop-gap measure. The length of a bridging loan is typically only 12 months in total since it is designed to be paid off in full as soon as your first property is sold.

Since bridging loans are available with interest-only repayments, they can make it easier to manage two mortgages during the interim period between buying and selling.

How does using equity to buy a second home work?

If you have built up equity in your current property, then this can be used as a deposit on the purchase of your next home.

How does using equity to buy a second home work? Well, imagine you purchased a property 10 years ago for $300,000. Since then, you’ve reduced your mortgage balance down to $180,000. But during those 10 years, the value of your property has also gone up by an estimated $220,000.

This means that you owe $180,000 on a property that is now worth $520,000. As a result, you have $340,000 in equity, which you can use as a deposit to secure your next mortgage.

What are the pros and cons of accessing equity?

Using equity to buy a second home comes with various pros and cons, so it’s important to consider all the ramifications in detail before you make a final decision.

For example, accessing the equity in your home will increase your debt, take longer to repay and may lead to higher repayments.

However, accessing your equity can put you in a stronger position as a borrower. If your cash deposit is less than 20% of the purchase price, then accessing your equity could save you from paying Lender’s Mortgage Insurance. A higher deposit (thanks to equity) may also mean that you’re eligible for a better range of products, which could result in future savings.

Can I get an interest-only loan when buying my next home?

Some lenders will offer interest-only loans to borrowers who are looking to finance their next home. This means you’ll only have to make repayments on the interest accrued and not on the amount that was borrowed (referred to as the ‘principal’).

The interest-only period will only apply for a set time (usually 1-5 years), after which you’ll be required to start making repayments on both the principal and the interest portions of the loan. This sort of loan can be beneficial for next home buyers who want to purchase an investment property in Brisbane or who are planning to sell their current home only after they move into their new home.

For more information on interest-only loans and whether or not they may suit your circumstances, talk to one of our experienced brokers.

What other buying costs should I be aware of?

When you’re planning to buy a second home it’s important to factor in all of the costs, not just the property purchase price. This could include conveyancing fees, pre-purchase inspections, stamp duty, loan application fees, council rates and the cost of relocating to the new property (this is particularly important if you’re moving to a new area).

How much can I borrow for my next home purchase?

The total amount you can borrow will depend on your current financial situation, including your assets, expenses and employment situation. You’ll also need to consider how much of a deposit you have saved or how much equity you have built up in your current property.

For an estimate of how much you can afford to borrow, try using our free online calculators, or for a more detailed assessment, make an appointment with one of our brokers.

Book a Free Consultation When Buying Your Next Home

To book a free mortgage consultation, or for expert broker advice to help you buy your next home, contact the team at North Brisbane Home Loans today.



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