Home Loans

While you look for your new home, we’ll look for your home loan

Allora Finance save their clients time, energy and money by helping them explore their options across 30+ lenders to find them a solution that suits their personal circumstances. First home, upsize or downsize, we're here to help.

Am I ready to buy?

Whether it’s been years or months since you last moved, buying a new home is a big deal - and things change quickly in the property world... lean on us to take the stress out of the process. We recommend getting in early to discuss:

• Current borrowing power and eligibility

• Cash savings, expected proceeds from a sale, existing mortgage

• Whether it’s best to sell first then buy, or buy first and then sell

• Deposit bonds, bridging finance, a little extra cash to renovate

• Property restrictions

We want our clients to navigate their path into the Australian property market confidently. Once we’ve chatted, you’ll have an indication of the viability of your plan, plus a guide on your max purchase price, empowering you to house hunt and make offers.

Buying at auction

If bidding at auction is likely for you, a pre-approval is generally recommended - and wherever possible, we'll choose a lender who will accept your contract of sale in lieu of a valuation, to increase your chances of formal approval.

Remember, auction bids are generally unconditional - there are typically no finance or building and pest clauses etc. We want to be as confident as possible that you will be formally approved, as your deposit may be at risk.

If buying at auction is a daunting prospect, we recommend getting in touch with a buyer’s agent - another cheerleader to help make your property goals a reality.

Asset rich, cash poor

As it happens, many of us are asset rich and cash poor, making it challenging to assemble a cash deposit to secure a contract. If this is your situation, a deposit bond can assist, and we can help you secure one.

A deposit bond is a guarantee from a third-party insurer, that confirms you have assets ready to liquidate, and make good on the promise of a payment. They are a cost-effective solution, and can vary in duration to suit your particular contractual situation. It’s important to check with the selling agent that a deposit bond will be an acceptable means to secure your contract, as bonds are issued against the property you plan to buy and are not transferable. Once you liquidate your asset, you replace the bond itself with cash, and the bond has served its purpose.

Are you also selling?

We understand that it can be challenging to explore what’s right for you, whether that’s selling your home and then finding a new home to buy, or buying first and then readying your existing property for sale.

Sometimes it's impractical or undesirable to rent in-between purchases. Where possible, simultaneous settlement via contract clauses makes this possible without expense, however it may also be possible to negotiate a 'rent-back' or 'rent-early' situation with the other party. Where these options fail, or when more time is needed for the sale of your existing property, you might also consider using something like bridging finance to help you transition into your new home.