Your home upgrade specialist
Steve Chin
Mortgage Broker
Steve brings over 8 years of experience across finance and mortgage broking. He is known for his thoroughness, his patience, and his ability to make an overwhelming process feel manageable. Clients consistently praise his responsiveness, his clear communication, and the fact that he takes the stress out of the lending process.
8+
Years in finance
MFAA
Member
5.0
Google rating
Next home purchase
Upgrading
Equity release
Growing families
Free upgrading assessment
Tell us where you are and where you want to be. We will map out the numbers.
A short, honest assessment from Jason or Steve. We calculate your equity, buying power for your next home, and whether you need a bridging loan - and reply within one business day.
The upgrading challenge
The gap between selling and buying - and how to manage it
Upgrading means coordinating two significant transactions simultaneously: selling your current home and buying your next one. The order, the timing, the finance structure - all of it needs to work together. Lendology maps out the whole picture before you start, so you're not making decisions under pressure.
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Equity assessment - We calculate exactly how much equity you have available and how it translates to deposit and borrowing capacity on the next purchase.
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Simultaneous settlement - Where possible we align settlement dates to minimise double-mortgage exposure and avoid the need for short-term accommodation.
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Bridging loan modelling - If you want to buy before selling we calculate the exact cost of a bridging loan and whether it makes financial sense for your situation.
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Loan structure - We structure the new loan with offset features and flexibility - particularly important when managing two transactions simultaneously.
How it works
The Lendology process
1
Understand your equity and borrowing position
We calculate your current equity, what you can borrow for the next purchase, and whether you need to sell first or can buy simultaneously.
2
Compare sell-first vs bridging pathways
We model both options - selling first then buying, versus buying first using a bridging loan - and show you the real cost and risk of each.
3
Loan comparison across 60+ lenders
We find the right loan for your new purchase - rate, offset features, lender policy - and structure it to suit your financial position.
4
Manage the transition
We coordinate pre-approval, formal approval and settlement timing with your agent and conveyancer to make the move as smooth as possible.
Calculator
Estimate your equity - and what you can buy next
A starting-point estimate only. Lendology calculates your exact equity and borrowing capacity in a no-obligation consultation.
Your current home
$850,000
$350,000
$1,200,000
Your position
$500k
Available equity
$500k
Deposit available (80% LVR)
$700k
New loan required
58%
LVR on new purchase
This does not account for selling costs (~2% of sale price), stamp duty on purchase, or your income serviceability. Lendology calculates the full picture at no cost.
Your two main pathways
Sell first vs buy first - the honest comparison
Neither option is universally better. The right choice depends on your equity, income, risk tolerance and the current market.
| Factor | Sell first, then buy | Buy first (bridging loan) |
|---|---|---|
| Budget certainty | You know exactly what you have | Depends on sale price achieved |
| Timing pressure | Must find next home quickly | No rush on current home |
| Double mortgage risk | None | Yes - during bridging period |
| Temporary accommodation | Often required | Move directly to new home |
| Finance cost | Standard loan only | Bridging interest on peak debt |
| Negotiating position on purchase | Unconditional buyer | Also unconditional |
Lendology models both pathways for your specific situation - including the exact cost of bridging - before you commit to either approach.
Google reviews
124 five-star Google reviews
Read all reviews →Guides and tools
Go deeper
Guide
How a bridging loan works
Guide
Should I refinance when upgrading?
Calculator
Repayment calculator
Calculator
Refinancing savings calculator
Blog
Fixed vs variable rate home loans - which is right for you?
Blog
How rising insurance costs affect your home loan
Blog
What happens to your mortgage if you lose your job?
Service
Bridging loans
Common questions
FAQs
Should I sell before I buy?
It depends on your financial position, risk tolerance and the current market. Selling first gives you certainty on your budget but may mean renting in between. Buying first gives more timing flexibility but requires a bridging loan or long settlement. Lendology models both options for your specific situation.
What is a bridging loan and do I need one?
A bridging loan is short-term finance that allows you to buy your next property before your current home settles. It is useful when you need to move without waiting for your sale to complete. Lendology assesses whether bridging makes financial sense for you - the costs can be significant and it is not always the right choice.
How much equity do I need to upgrade?
The equity available depends on your current property value and remaining mortgage balance. Lendology calculates your exact equity position and how it translates to deposit on the next purchase - including whether you need to fund a gap and how to structure that.
Can I keep my existing loan when upgrading?
In some cases you can port your existing loan to the new property, retaining your current rate and features. Whether this makes sense depends on your lender's portability policy and whether your current rate is still competitive. Lendology reviews both options.
How much does stamp duty cost when upgrading in SA?
Stamp duty in SA is calculated on the purchase price of your new property. On a $1.2M property, stamp duty is approximately $55,000. If you are buying before selling, this needs to be factored into your borrowing. Lendology includes stamp duty in every upgrading cost model.
Can I use my existing offset account balance as part of my deposit?
Yes. Offset account funds, redraw funds and savings can all contribute to your deposit on the next purchase. Lendology calculates your total available funds across all accounts when modelling your upgrading position.
What happens if my property sells for less than expected?
If your property sells below your expected price, it reduces the equity available for your next purchase. This may mean a higher LVR on the new loan, potentially triggering LMI. Lendology stress-tests your numbers against a range of sale prices so you are prepared for different outcomes.
Do I need to pay LMI when upgrading?
It depends on your equity position. If the sale of your current property provides enough deposit for the new purchase to be at or below 80% LVR, no LMI is required. Lendology models this precisely so you know before you commit.