Loans of $1 million and above are often assessed differently. Fewer lenders compete, valuations are harder to predict and your income gets a closer look. We are Gold Coast based and work with homeowners, upgraders and investors, subject to assessment.
What we do
Lenders differ on how far they will go on a large loan, and the answer can change with the property type and your income. We check each lender's limit for your loan size before we shortlist, so you are not assessed by a lender that was never going to fit.
Prestige and waterfront homes can have few comparable sales, so a valuer may come in below the contract price. We talk through the gap and how to cover it before you offer, not after.
Bonuses, commission, share based pay and company income are not all treated the same. Lenders often want a history and may count only part of variable income. We line the evidence up first.
Seawalls, pontoons and insurance affect the valuation and what a lender will accept. We cover what to check before you offer, and our guide has the checklist.
Upgrading usually means holding two properties for a time. We work out the structure, such as bridging finance, and what it costs, so you can plan for the gap.
Buying land, demolishing and building is construction lending, with funds released in stages against completed work. We map the funding before you commit to the purchase.
At this loan size a small rate difference is a lot of money, and so is the structure: offset accounts, splits, interest only periods and whose name is on the loan.
We know the lending questions that come with Sovereign Islands, Isle of Capri, Clear Island Waters and Hope Island, from canal frontage to community title schemes.
FAQs
There is no single number. It depends on the loan size, your debts, your deposit and how each lender treats your income. Send us your figures and we will tell you what looks realistic before you make an offer.
They can. Some lenders apply lower loan to value limits, tighter policy or extra valuation requirements as the loan grows, and the thresholds differ by lender. That is why we check policy before we choose where to apply.
It can happen, especially where few similar homes have sold recently, which is common for waterfront and island homes. If the valuation falls short, the lender lends against the lower of the valuation and the price, so you have to make up the difference. We talk through that risk before you offer.
Often some of it does, but lenders vary. Many want a history and may count only part of variable income. Send us your payslips and bonus statements and we will tell you how they are likely to be treated.
In many cases yes, but it needs a plan, because the lender will want to see how both loans are covered until the first home sells. Bridging finance is one option. See our bridging finance page.
We are based on the Gold Coast and work with clients Australia wide. The island and waterfront suburbs are a particular focus for us.
Related guides
Important considerations
Next step
No pressure, no jargon. We'll listen first, then map out the smartest way forward.