Downsizer Loans
Finance structured around your retirement, not just your next purchase
Hervey Bay has one of the largest retiree populations on the Queensland coast. Downsizing or moving locally comes with its own finance considerations — we know what to look for.
Downsizing on the Fraser Coast
Whether you're moving from a larger family home in Maryborough into something more manageable in Hervey Bay, releasing equity to help family, or relocating to be closer to services, downsizing finance needs a different approach than a standard first-time purchase. Lenders assess retirees and near-retirees differently — and not every lender does it well.
What we look at with you
- ✓ Whether you need to borrow at all, or can buy outright from your sale proceeds
- ✓ How superannuation, pension and investment income are assessed by different lenders
- ✓ Whether bridging finance makes sense if you want to buy before you sell
- ✓ Loan terms that make sense for your stage of life, not a default 30-year term
We're brokers, not financial advisers
Downsizing decisions often intersect with superannuation and retirement planning — areas outside mortgage broking. Where that's the case, we'll say so plainly and can point you toward a licensed financial adviser, rather than guessing.
Talk through your downsizing plans
Tell us a bit about what you're after and we'll be in touch within one business day.
Common questions
Downsizing questions
Do I need a loan if I'm downsizing and have equity to spare?
Not always — some downsizers buy outright from the sale of their existing home. Others prefer to keep some funds invested and borrow a smaller amount instead. We can talk through what suits your situation.
Can retirees get approved for a home loan?
Yes, though lenders assess retirees differently to working applicants — looking at superannuation, pension income, investments and the loan term rather than just wages. Some lenders are notably more experienced with this than others.
What is the Downsizer Superannuation Contribution scheme?
It lets eligible people 55 and over contribute up to $300,000 (per person) from the sale of their home into superannuation, outside normal contribution caps. It's a superannuation strategy rather than a loan product, but it often comes up in downsizing conversations, so we can point you toward a financial adviser if it's relevant to your plans.
Is bridging finance an option if I want to buy before I sell?
In some cases, yes — bridging finance can cover the gap between buying your next home and settling the sale of your current one. It's not right for everyone, so we'll walk through whether it fits your circumstances.
Thinking about downsizing?
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