Why Specialist Lenders?
Properties have grown significantly in value. You may be able to access your equity for renovations, investment, or life events; rates vary by lender. Some mainstream banks may find your income structure harder to assess. Specialist lenders may assess it differently, and timing varies by lender.
What You'll Need
- Last 2 years tax returns
- Recent payslips or income documentation
- Employment/contract letters
- 6 months bank statements
How Much Can You Borrow?
Borrowing power varies by lender and is based on your total verified income. Your actual borrowing power depends on your complete income assessment.
How Much Equity Can You Access?
Typically 80% of your property value minus your outstanding mortgage:
- • Property value: $700k
- • 80% available: $560k
- • Current mortgage: $380k
- • Can borrow: $180k
Common Uses
- Home renovation: Kitchen, bathroom, extension
- Investment property: Use equity as deposit on new purchase
- Debt consolidation: Pay off credit cards at lower rate
- Business investment: Fund your business expansion
- Education: Children's university or professional training
- Major life events: Wedding, health expenses
Why Equity Release Now?
Property values have grown significantly over the last 5 years. You may have equity available, depending on your property value and loan balance. Equity release lets you use that growth for your priorities without selling your home.
How the Process Works
- Free assessment: We value your property and calculate available equity (takes 10 min)
- Lender match: We compare options to find a rate that may suit your situation
- Our response: We aim to reply the same day; approval timing varies by lender and how quickly your documents are ready
- Funds: Released after settlement, with timing varying by lender
Ready to explore your options?
Call Mortgagefy to discuss specialist lending options in Lakemba.
0432 634 648