20 Nov 2021

Relocation Home Loan Basics

Over 30 years, things change: families grow, individuals change jobs and careers. In addition, family emergencies occur and people face medical emergencies. Some individuals pick to relocate. Others realise that it’s necessary.

Homeowners faced with moving benefit from a relocation home loan. It provides some financial ease at a time when finances become stretched.

Here we look at the basics of the loan.

It’s a Tailored Solution

A relocation loan differs from a mortgage. As a homeowner, you have already gone through the financial background process. Loan specialists go through the application process with you. However, it requires less paperwork. They run a basic financial check to ensure that the finances remain in a good position. 

Every homeowner requires something different financially for a relocation. Thus, the loan is a tailored solution.

Loan Types

Mortgage House offers several relocation loan types including variable, fixed-rate, portable, and bridging. 

Australians live in their homes an average of 10 to 15 years even though the loan length is 30. Thus the portable loan feature is catching on. The feature allows homeowners to take the outstanding portion of their mortgage with them to their new home. 

The bridging loan helps homeowners make ends meet between selling their current home and purchasing their new one.

Mortgage House loan specialists help each applicant find the best solution. Our tools help you see different scenarios including the mortgage repayment calculator.

Relocation Home Loan Conclusion

Applying for a relocation home loan is a straightforward process. To start the application, contact the loan specialists at Mortgage House. They can answer your questions and present your options.

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