Upgrading Your Home? We’re Here to Simplify Your Next Loan.
Whether you’re upgrading, downsizing, or relocating - securing a loan for your next home doesn’t have to be complicated. We are here to guide you, ensuring you get the best deal for your new chapter.
Strategy, planning and end-to-end support.
If you’re planning to buy your next home, we’re here to make the process smoother and more transparent. With our expertise, we’ll guide you through every step, from exploring all your home loan options to finding the mortgage that fits your needs best.
We’re committed to helping you make informed decisions, so you can move forward confidently and maximise the financial outcomes of your next home purchase.
To be successful, start by defining your goals.
Whether you’re upgrading for a growing family, downsizing for a simpler lifestyle, or relocating to shorten your commute, navigating your next home loan can be challenging without the right support.
Getting professional advice ensures you explore all your options and make the best financial decisions for your future. From understanding equity to fine-tuning your strategy to set you up for long-term financial freedom, there’s a lot to consider when planning your next steps.
We keep up to date with the finance world, so you don't have to!
Financing your next home can feel easier since you’ve been through the process before. However, the lending market is constantly changing, and bank policies are regularly updated. Your financial needs and goals may also have shifted since you bought your first property, making it important to review your options. What worked for you then might not be the best fit now.
That’s where we come in. We’ll help you navigate these changes and find the best solution tailored to your current needs.
You need an expert advisor on your side.
At Empowered Lending Group, we stay on top of all the changes in the lending landscape so you don’t have to. Save time by working with us time and avoid the hassle of deciphering complicated bank policies.
We’ll take a close look at your needs and goals to ensure you’re still getting the best loan for your current situation. If your financial position has changed since purchasing your first property, we’ll assess your equity and provide options to help you make the most of your current assets.
You may not even need to sell your existing home to secure a deposit for your next one!
Case Study
Lisa & Ben's story to upgrading their home.
How we helped Lisa and Ben upgrade their home without selling their existing home and wasting money in needless rent.
Lisa and Ben had outgrown their current home and were dreaming of upgrading to something bigger, with more space for their growing family. But like many people in their situation, they felt stuck. They didn’t want to sell their home and then rent while searching for their ideal upgrade, uncertain of how long the process might take.
It seemed like a huge risk — what if they sold too early and couldn’t find the right home? Or worse, what if they couldn’t secure a loan big enough to afford the upgrade they truly wanted?
That’s when they reached out to us.
After an in-depth consultation, where we carefully reviewed their situation, it became clear that Lisa and Ben were in a better position than they thought. We explained that they didn’t actually need to sell their current home to afford their dream home. By taking a closer look at their finances, we discovered they had strong borrowing power and a healthy amount of equity in their existing property. This opened up an option they hadn’t even considered — using their current home’s equity as a deposit for their new home.
With this approach, they were able to put a strong deposit on their forever home without having to sell their existing property right away, avoiding the stress of renting and searching. It was a seamless process, and they moved into their new home without the financial strain they had originally feared.
If you’re feeling stuck like Lisa and Ben, unsure how to make that next move, know that we’re here to explore every option with you. Sometimes, the perfect solution is just a conversation away.
Simplifying the loan experience.
Get in touch with us.
We are looking forward to starting a conversation, building a relationship and helping you achieve
property success!
Frequently asked questions.
If you've got questions, we've got answers. Here as are some of the most common ones we get. For everything else, get in touch.
I want a property but have no idea where to start.
The good news is, we do!
We are here to fully support you and, if it helps we can introduce you to our network of professionals that are great, just like us. If you need a conveyancer, solicitor, real estate agent, building broker, property manager or anyone else, we can get you connected.
We can also help you find and apply for any grants, schemes or incentives currently on offer to help you maximise your property portfolio. This isn't just to First Home Owners, we can help you if you are looking for an investment property or a development project too.
Mortgage Broker vs Direct. Why use a mortgage broker?
One word...Value! We have access to over 65+ lenders with a total of hundreds of loan products and options available to us. This gives us the ability to top and tail a solution that fits your perfect needs.
Primarily, this results in a lower overall cost to you, especially as we always look to reduce your overall interest and all other fees associated with your loan. Combine that with the ability to do rate reviews and re-financing options and this translates into thousands of dollars in savings over the life of your loan.
The other huge benefit is the loan approval rate. Using a mortgage broker has a much higher approval rate than an individual going straight to the bank. As a comparison we have a 98% loan approval rate vs the industry average of 60% for bank loan approvals for individuals. This gives you better chances to get your perfect property and not miss out on it.
Finally, we provide the benefit of time! If you had to do this legwork yourself, it would take forever to contact and compare each lender's many loan products. Plus let's not mention the financial jargon you have to deal with. It's a bit like buying health insurance... can you really compare like for like? Not really!
The good news is, we can and we do - everyday for our customers so that they get the best loan that meets their exact needs.
Also the other thing is, banks aren't bound by Best Interest Duty obligations like mortgage brokers are. This means they will only offer you their products, whereas a mortgage broker has the legal obligation to recommend only the loan product that best fits your needs.
Do I have to pay to use your services?
Nope! We charge you ZERO fees.
Hmmm, don't worry we aren't working for free. All mortgage brokers are remunerated directly by the lenders via a commission that is paid when one of our clients takes out a loan with that lender.
Across all lenders the majority of the commission is very similar, that way we aren't swayed towards one lender or one product, but rather focus on YOUR needs to select the best deal for you!
On a side note, it is important to realise that some mortgage brokers do actually charge for their services, so be careful who you get into bed with (financially speaking of course). You can be assured that at Empowered Lending Group, we will never charge you.
How do I increase my borrowing capacity?
Good question! It's a popular one.
The simple answer is, decrease your overall debt exposure. You see there is a direct correlation between the current debt you have access to and the how much you can borrow. So by simply reducing that amount, you will end up being able to borrow more.
Some of the easiest ways to reduce your current debt levels are to lower your credit card limits, especially on credit cards that aren't maxed out. Even better, switch to debit cards and get rid of your credit cards.
Other things that you can do is pay off any car loans or personal loans that you may have. And if you can't afford to pay those off, that is ok too, we can look at consolidating all of those debts and rolling them into your into your new mortgage. Just one of the many tricks we have up our sleeves to help you achieve property success.
How much of a deposit do I need to purchase a home?
This is dependant on how much the purchase price of your property will be. At the risk of sounding obvious, the more the better (duh...you knew that).
Ideally you would want a deposit of 20% or more so that you can avoid Lender's Mortgage Insurance (LMI). For a lot of people, especially First Home Owners that is tough, we understand, so don't feel bad if that isn't something you can achieve. We can still help you!
The great news is, there are many lenders that only require a 5% deposit provided that you check a few boxes. In some cases you might be eligible to have your LMI waived too, with just a 5% deposit. Talk to us to find out if you qualify.
One thing to keep in mind is that there are other costs associated with buying a property on top of the purchase price. These need to be considered when working out your deposit percentage as they will all contribute to the total amount you may need to borrow.
Common examples of these extra costs are stamp duty, land transfer fees, mortgage registration fees and solicitors fees. It’s best to review these numbers with an expert, so if need help reach out and we can run the numbers with you.
What if I don't have enough of a deposit?
While we encourage you to save up as much as you can for your deposit, we completely understand that not everyone is in a position to save up enough required for an initial deposit.
The good news is, you're not completely stuck. There are other options such as government grants, schemes and incentives to help you get the deposit you might need. There are also other options too such as guarantors or equity from other assets you might own.
During our initial conversation, we can talk through all of the various options and work out what fits you best.
We don't live in Brisbane or Queensland, can you still help?
Yes we can!
While we our primarily mortgage broker focus is South-east Queensland and Brisbane regions, we are licensed to operate Australia wide.
And with today's modern technology, virtual meetings and remote verification of identity options, we have actually helped many interstate clients get their dream properties. We would love to get to know you and help you too. Please reach out so we can help!
How long the initial assessment take?
On the first time we meet!
We can get you the answers during our "chill chat" phase, just as soon as we have all of your initial details and a good understanding of your current financial situation and what you are looking to achieve.
Once we have those details, we'll run the numbers and provide you with an initial estimate before we conclude our first meeting.
A complete assessment usually takes us a few business days to complete once we have received all of the necessary paperwork and details. Don't worry it isn't daunting, and we will step you through everything we require to get going.
What is Lenders Mortgage Insurance (LMI) and do I need it?
Lenders Mortgage Insurance (LMI) is insurance that protects the lender if you can't pay your loan and your property sells for less than what you owe. Remember, LMI covers the lender, not you, even though you'll typically pay for it. You can't make a claim on LMI; only the lender can. LMI is different from mortgage protection insurance, which you can get to protect yourself if you can't make your loan payments.
LMI is only payable (by you) if you have a deposit of less than 20%. Even if you are in that situation, don't worry as LMI can be added to your loan, in other words it isn't something you necessarily need to pay out of pocket.
The good news is that LMI can also be waived if you work within certain professions or if you are a First Home Owner and meet certain eligibility criteria. To find out more, get in touch and we can walk you the details of LMI and if it applies in your situation.
Do I need a pre-approval and how long does it last?
If you are asking this question, then that means you know your stuff! We are impressed.
A fully assessed bank pre-approval typically lasts for 90 days. If you work with an experienced broker (we are one such broker) who thoroughly reviews your information and does the calculations right, you usually don't need to submit a pre-approval application to the lender. The broker’s estimate will be very accurate and won't impact your credit history.
We only suggest officially applying for pre-approval in specific situations, like if you're planning to bid at an auction or if your financial situation is complex and needs special attention from lenders. No need to stress though, we will let you know if this is something that applies to you and if so will help you through the whole process.