We're here to lend a hand
Having bought a home before, you’re probably familiar with the process you need to go through to get things in order. But to make sure you cover all your bases and tick off any new requirements since your last purchase, we’ve put together the following steps.
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Planning to buyThere are a couple of parts to this one. Have you thought about what you’re going to do with your current property – keep it as an investment, or sell it before buying your next? Your answer to this question will influence your borrowing power. To help work this out and find out how much you could be up for in repayments, use the borrowing power calculator.
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Understand the costs of buyingWhether you’re a property pro or you’re taking your first step on the ladder, it’s good to understand what extra expenses you could end up paying.
- Lenders Mortgage Insurance
- Lending fees
- Moving costs
- Stamp duty or transfer duty
- Legal and conveyancing fees
- Building and pest inspection
- Utilities and connections
- Home and contents insurance
Home selling tip!
Don’t forget to factor in the costs for getting your home ready for sale – things like painting, landscaping and repairs. -
Getting your loanNow that you’ve considered all the costs, it’s time to find your next home and the best loan to suit your needs.
Compare all home loansPre-approval
Once you have an idea on how much you can borrow, chat to a lending consultant and get pre-approval for your home loan. Securing pre-approval is a super smart move as it clarifies your borrowing power, what you’ll repay and helps you search for a house in your budget. Pre-approval is free and valid for up to 3 months. This gives you plenty of time and confidence to find your dream first house. -
Get your next home loanBefore you start packing the moving boxes, don’t forget to cover off these things:
- Download the home loan application checklist (40.1KB)
- Organise a building and pest inspection.
- Get a solicitor or conveyancer involved to cover the legal side of things.
- Organise home and contents insurance
And because there’s so much to think about at settlement, have a read of our Settlement Guide to help you through the process.
Home buying tip!
Although you’ve been through the process before, it’s always wise to get a legal expert to review contracts and other documents.
Contact us
Need help or would like to know more? RACQ Bank offers many convenient ways for you to get in touch with us.
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Talk to us face to face at an RACQ storeVisit us at one of our Queensland store locations. -
Have a home lender come to youBook a chat with a mobile lender at a time that’s convenient for you. -
Speak to a home lending specialist over the phoneCall us at 13 1905. -
Book a virtual appointmentChoose a time to talk with us online about buying your next property.
Your RACQ Bank Home Loan comes with RACQ membership~~
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More about home buying
Things to note
Banking and loan products issued by Members Banking Group Limited ABN 83 087 651 054 AFSL/Australian credit licence 241195 trading as RACQ Bank. Terms, conditions, fees, charges and lending policies apply. This is general advice only and may not be right for you. This information does not take your personal objectives, circumstances or needs into account. Read the disclosure documents for your selected product or service, including the Financial Services Guide and the Terms and Conditions, and consider if appropriate for you before deciding.
Except for RACQ Bank, any RACQ entity referred to on this page is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Cth). That entity’s obligations do not represent deposits or other liabilities of RACQ Bank. RACQ Bank does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.
RACQ Bank subscribes to the Customer Owned Banking Code of Practice which establishes higher standards than the law requires. The Code reflects modern consumer expectations and developments in approaches to issues such as consumer vulnerability, guarantors, and supporting customers through financial hardship. Please read our Customer Owned Banking Code of Practice page for more information.
Insurance Products (excluding Travel Insurance) are issued by RACQ Insurance Limited ABN 50 009 704 152 (RACQI) and arranged by its agent, RACQ Distribution Services Pty Ltd (RDS) ABN 35 116 361 650, AFSL 567130 and RDS' authorised representatives (including RACQ Operations Pty Ltd ABN 80 009 663 414, AR No. 234978 (RACQO). Conditions, limits and exclusions apply. RDS and RACQO are in the RACQ group of companies. One of the companies in the RACQ group of companies has a minority shareholding in RACQI.
RDS and RACQO have not taken your personal objectives, circumstances or needs into account when preparing advice regarding insurance products and you will need to consider whether the advice is appropriate for you. Read the Product Disclosure Statement (PDS) and any applicable Supplementary PDS before making a purchase decision on this product. You can also access our Target Market Determinations on this website. RDS receives a commission from RACQI for the policies it arranges. RACQO receives fees paid for services it provides to RDS. Further details about remuneration are available on request prior to purchasing.
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