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Relocation, upsizing or downsizing? Plan your next move with AXTON Finance’s revolutionary Next Purchase software

Posted on 26/08/202526/08/2025 by Hunter Scribe

Moving house is one of the biggest financial and lifestyle decisions you can make. Whether you’re relocating to a new area, upsizing to fit a growing family or downsizing to free up time and capital, the move itself may be exciting – but the financial planning behind it can make the process overwhelming.

Beyond the search for the right home, you need to understand how the purchase will affect your monthly cash flow, how much deposit you’ll need, what your new loan-to-value ratio (LVR) will look like and, if you’re investing, whether the numbers still stack up after all costs. These calculations aren’t always straightforward, and small errors can have major consequences.

The problem with traditional property planning

For most Australians, relocation finance planning has traditionally meant spreadsheets, manual “what if” scenarios and hoping the numbers are accurate.

What happens if interest rates rise? What if you sell for a little less than expected? How will that impact your borrowing capacity?

Without the right tools, it’s easy to underestimate costs, misjudge cash flow or overlook how your overall portfolio might be affected. This uncertainty often leads people to delay decisions, or worse, make them without a clear picture of the risks and outcomes.

Introducing AXTON Finance’s Next Purchase software

At AXTON Finance, we know that clients want clarity, not guesswork. That’s why we developed the Next Purchase property planning tool: a first-of-its-kind platform designed to simplify even the most complex relocation scenarios.

Exclusively available to AXTON Finance clients, the software allows you to model realistic outcomes tailored to your situation. Instead of relying on estimates, you can see precise calculations for:

Cash flow property planning: how much you’ll have left each month after mortgage repayments and holding costs
Funds required: including stamp duty, purchase costs and your cash contribution
Purchase LVR: your borrowing percentage on the new property
Portfolio LVR: your total debt position across all properties, showing the bigger financial picture and aligning your LVR and mortgage strategy

How does the Next Purchase property planning tool work?

The Next Purchase tool goes beyond static calculators. It lets you adjust key variables, such as the purchase price, sale price, deposit, interest rates or rental income and see the outcomes instantly.

Every change updates in real time, with clear visual outputs that show:

Monthly cash flow, including surplus or shortfall after expenses
Loan-to-value ratios (LVR) for the new purchase and your overall portfolio
The exact funds you’ll need to complete the transaction, including stamp duty and costs

For example, as the screenshot above shows, a $2.25 million purchase generates a projected surplus of $1,225 per month, with both purchase and portfolio LVRs at 28%. If you adjust the sale price of your existing home or shift the interest rate, the software recalculates immediately, giving you clarity about whether your goals remain achievable.

Instead of relying on guesswork or spreadsheets, you can stress-test different scenarios in minutes and make informed relocation finance planning decisions without the guesswork.

Who benefits from our Next Purchase software?

This software is designed for anyone preparing to buy their next property:

Upsizers & Relocators: Moving homes, interstate or across the country? Our software helps you manage the complexities of buying and selling in different markets, giving you a complete financial picture from start to finish.

Investors: Thinking about your next investment property? Use Next Purchase to test different scenarios and see the projected return on investment, cash flow and LVR impacts before you commit. It’s the ultimate investment property financial modelling tool.

First Home Buyers: Buying your first property comes with lots of unknowns. The software shows exactly how all the variables interact, giving you a clear picture of what works best for your situation. It’s especially useful for showing your cash flow post-settlement, once rent payments stop and your savings levels return to a normal rhythm.

Clients are already feeling the impact

Clients using the Next Purchase software describe the experience as a game-changer. Instead of feeling buried under numbers and uncertainty, they can clearly see the path forward. Many say it makes once-complex goals feel “remarkably achievable,” giving them the confidence to act quickly when the right property comes along.

Plan your Next Purchase with confidence

For a limited time, AXTON Finance is offering a complimentary Next Purchase Consultation, giving you exclusive access to this brand-new software.

Whether you’re relocating, upsizing, downsizing or investing, this is your chance to move beyond guesswork and plan your next property decision with confidence.

Book a session with one of our expert brokers and see how our Next Purchase property planning tool can help make your property goals a reality.

The secret to getting a mortgage approval as a self-employed borrower

Posted on 11/08/202522/08/2025 by Hunter Scribe

If you’re self-employed, getting a home loan can be trickier. Lenders want to see consistent income, and if yours fluctuates or you minimise tax, it can raise red flags.

According to the Australian Small Business and Family Enterprise Ombudsman, there were 1.7 million self-employed Australians in June 2024. This was 4.9% more than in 2023 and made up 62.5% of all businesses in the country.

Despite this growing segment, many self-employed Australians face additional hurdles when applying for a home loan. But here’s the good news: with the right preparation and expert help, self employed home loans are well within reach.

Why self-employed borrowers face more challenges in getting a mortgage

Lenders can sometimes see self-employed applicants as a higher risk. That’s because:

Your income can fluctuate, making it harder to assess borrowing power.

Tax deductions can reduce your taxable income on paper, which may make you look less financially capable, even if your cash flow is strong.

Your income is more difficult to verify as you don’t have traditional payslips like a salaried employee. You need to rely on tax returns and financial statements, which may not always reflect the true picture.

In addition, the application process can be more involved. You’ll typically need to provide full tax returns, business financials and other supporting documents.

Many lenders also require that your business has been operating for at least two years and ideally with a consistent or upward income trend. Without this track record, your chances of approval may be reduced.

Key documents required for a self-employed home loan application

If you’re applying for a self employed home mortgage, expect to provide detailed records. That’s because lenders want to see both how much and how consistently you earn.

Here’s what you’ll typically need:

Personal and business tax returns for the last 1–2 financial years
Business financials including a profit and loss statement and balance sheet
Business Activity Statements (BAS) or bank statements to verify ongoing income and expenses
ABN and GST registration details (especially if you’re a sole trader or contractor)

Some lenders may request interim financials if you’re applying mid-financial year, or if your most recent tax return doesn’t reflect your current income.

Clean, accurate and up-to-date financials can make all the difference. It’s worth working with your accountant early to ensure your numbers tell the right story.

Full-doc vs low-doc loans: which one should you choose?

When applying for self employed home loans, you’ll generally have two main options: full-doc or low-doc. Which one you choose depends on how much financial documentation you can provide and how strong your numbers are.

Full-doc loans

These are the most common options for self-employed borrowers who can provide at least two years of consistent, verified financial information.

Full-doc loans often offer access to a broader selection of lenders, potentially resulting in more competitive interest rates and additional features like offset accounts and redraw facilities.

Low-doc loans

Low-Doc loans are designed for self-employed borrowers who can’t meet the standard documentation requirements, such as those who have recently started their business, haven’t completed recent tax returns or have income that’s difficult to verify in traditional ways.

Instead of relying on full tax returns and profit-and-loss statements, low-doc lenders may accept alternative forms of income verification. These can include recent business bank statements, BAS statements or a signed letter from your accountant confirming your income.

While low-doc loans provide more flexibility, they can also come with trade-offs, such as higher interest rates and larger deposit requirements.

Strategies to improve your mortgage approval chances

Even though mortgages for self employed borrowers require more legwork, there are smart ways to boost your approval chances, especially if you start preparing early.

Here’s how to get your finances in shape:

Keep taxable income high: Avoid excessive deductions in the one to two years before applying.
Reduce your debts: Paying down credit cards, personal loans or business liabilities can improve your debt-to-income ratio.

Save for a bigger deposit: Aim for at least 20%. A larger deposit shows lenders you’re financially responsible and have more skin in the game. This reduces their risk and can improve your chances of approval. As a bonus, it can also help you avoid paying lenders’ mortgage insurance (LMI).

Improve your credit score: Improving your credit score shows lenders that you can manage debt effectively. Pay off overdue accounts, avoid multiple credit applications and keep business and personal debts separate.

The key is to plan ahead. Aim to start preparing at least 6–12 months before you apply. This gives you time to get your finances in shape, improve your credit position and build a strong case for your loan application.

Alternative lenders & non-traditional mortgage solutions

When it comes to self-employed home loans, not all lenders operate the same way. Traditional banks tend to have strict rules, especially around income verification and business history, which can make approvals difficult.

That’s where alternative lending options come in.

First, non-bank lenders are regulated financial institutions that aren’t banks. They often assess applications more flexibly, which can help if you have a newer business, irregular income or a complex structure. Many accept alternative income verification, like BAS or bank statements.

Non-bank lenders offer traditional loan products (like home loans, asset finance or vehicle loans), but often with more flexible criteria than major banks. Their turnaround times can be quick, with fast assessment criteria.

According to the Reserve Bank of Australia, non-bank lending is growing rapidly. In 2024, it accounted for 6% of financial system assets.

As the graph below shows, RFCs (or registered financial corporations, which make up around half of non-bank lenders by size) grew their share of housing lending over 2024 at a faster rate than banks.

Private lending is another alternative source of self employed home loans. These lenders, often individuals or small groups, may offer short term or bridging loans, especially useful if you’re waiting for updated financials or tax returns.

So, when should you consider alternative financing over a traditional bank?

Well, if you’re struggling to meet tough serviceability requirements or can’t supply two years of tax returns, alternative lenders may offer a more flexible path. Many accept alternative income verification, such as BAS statements or accountant letters.

Just keep in mind, interest rates can be higher and some features may be limited. A mortgage broker can help weigh the trade offs and find the right option for your situation.

Also, don’t overlook government schemes. Depending on where you’re buying and your circumstances, you may still qualify for First Home Owner Grants, stamp duty concessions or other support, even if you’re self-employed.

Why working with a mortgage broker makes a difference

Applying for a self employed home mortgage either you are a doctor or lawyer takes careful planning, tailored strategy and, in some cases, a bit of negotiation. That’s where a mortgage broker can make a big difference.

Mortgage brokers:

Have access to lenders who specialise in self-employed clients
Know what documents to prepare
Understand lender policies
Can negotiate favourable rates and terms

Applying directly with a bank is an option, but if your application is rejected, it can impact your credit file and reduce your future borrowing options. This is especially risky for self-employed borrowers.

A broker helps you avoid these pitfalls by matching you with the right lender from the start.

Plus, brokers are bound by best interest duty. We’re required to recommend the loan that’s right for you, not one that pays us the most.

Final steps to a successful mortgage application

Want to give yourself a good chance of approval? Here’s a final checklist:

Start early: Ideally, 6 to 12 months before you plan to buy
Get your books in order: Ask your accountant to prepare lender-ready financials
Keep your income consistent: Avoid big business changes or cash flow spikes
Work with a broker: We’ll help flag any red flags before your application reaches the lender

By planning early and getting expert guidance, you’ll avoid delays and boost your chance of approval.

How we help self-employed buyers get approved

At AXTON Finance, we specialise in helping self-employed Australians secure the self employed home mortgage that suits your financial citation and long-term goals. Whether you’re a sole trader, freelancer, company director or contractor, we understand the ins and outs of mortgages for self employed clients.

Our team will take the time to understand your business, help you gather the right documentation and match you with lenders that make sense for your situation. We’ll do the hard work, so you can focus on growing your business and planning your next move.

Self-employed and ready to buy a home? AXTON Finance can help business owners secure the right loan with the right lender. Call 03 9939 7576, email [email protected] or get in touch to get started.

Dwelling completions climbed 6% over the last year in Victoria

Posted on 04/08/202522/08/2025 by Hunter Scribe

More homes are finally making it to market in Victoria, offering welcome relief for buyers and investors. That’s after Australian Bureau of Statistics (ABS) data shows a 5.9% increase in the number of dwellings completed in the 12 months to March 2025 when compared to the previous year.

This uptick suggests more homes are finally making it through the pipeline – welcome news for a market that’s struggled to keep pace with population growth and housing demand.

Victoria tops the charts for new housing completions

In total, 59,878 dwellings were completed across the state over the last year, according to the ABS. As the graph shows, this is well ahead of the next state, New South Wales, where 45,101 dwellings were completed.

Victoria has long led the pack on new builds, with more dwelling completions than any other state in every quarter since before the pandemic

Encouragingly, momentum is building earlier in the pipeline too. Victoria also topped the country for dwelling commencements, pointing to further supply increases on the horizon.

In the 12 months to the March 2025 quarter, construction began on just over 54,000 new dwellings, up 3.6% from the previous 12-month period. While most states and territories saw a lift over this period, Victoria’s increase was the largest.

Detached homes driving growth

Most of the recent growth in new supply has come from detached houses in the private sector, which tends to dominate in outer suburban growth corridors. Of all dwellings completed in the past year, 63.5% were private sector houses.

The HIA’s data shows that Victoria’s growth in detached new home sales was part of a broader national trend. Two rate cuts and stabilising inflation have improved borrowing conditions and reignited interest in new homes.

New home sales are also up

The uplift in construction is also being backed by renewed buyer interest. Nationally, new home sales jumped 18.8% in the June quarter – the strongest result in nearly three years. Once again, Victoria is leading the way.

According to the Housing Industry Association (HIA), Victoria saw a 27.7% increase in new detached home sales in the June 2025 quarter compared to the previous three months. This was the largest gain of any state.

However, the HIA cautioned that sales volumes in Victoria remain low by historical standards. High land costs, long lead times and ongoing builder capacity constraints continue to limit supply.

Numbers remain below government targets

The Victorian government has set a target of building 800,000 new homes by 2034. Having started in 2024, this would require the delivery of 80,000 new dwellings annually. So, while the current improvements on commencements and completions are positive, numbers are still well below what is required in order to meet these state targets.

And, given that the goals were set based largely on population growth rates, if targets are not met, the housing shortage will likely persist, putting further pressure on the overall housing market.

Why is this important news for buyers?

For Melbourne buyers, especially those looking to upgrade or invest, rising completions are significant. More dwelling options, including house and land packages or brand-new builds, offer greater flexibility in terms of design, location and features.

More stock can also reduce competition in some parts of the market, easing price pressure and creating a more favourable environment for buyers.

For investors, new properties can offer strong depreciation benefits, lower maintenance costs and better tenant appeal. With population growth continuing to fuel rental demand, well-located new builds can deliver stable returns while avoiding the hidden costs often found in older homes.

What to consider when buying a new build

If you’re thinking about buying in Melbourne’s growing new-build market, here are a few key things to keep in mind:

Loan type

The type of loan you need will vary depending on the structure of your purchase. If you’re buying a house and land package or building from scratch, you’ll likely require a construction loan. These differ from standard home loans, with progress payments made at each stage of construction. Your broker can explain the process and help ensure your loan structure is right.

Due diligence

It’s just as important to do your homework on a new build as it is with an established home. Check exactly what’s included in the build price, assess the builder’s reputation, and confirm timelines and inclusions. A thorough contract review can help prevent costly surprises.

Stamp duty concessions

In Victoria, off-the-plan purchases and newly built homes can qualify for stamp duty concessions or even full exemptions. These savings can be significant, so speak to your mortgage broker about what you might qualify for.

Talk to a broker before you buy or build

With more new builds entering the market, buyers have more choice – but also more decisions to make. Choosing between build types, loan structures and available government incentives can be complex.

An experienced Melbourne mortgage broker like AXTON Finance can make the process simpler. We can compare suitable loan options, explain construction finance, help you access concessions and connect you with professionals such as conveyancers and building inspectors to support your due diligence.

By working with a broker, you’ll gain clarity, save time and feel more confident in your next property move.

If you’re exploring opportunities in Melbourne’s growing new build market, AXTON Finance can help you make a confident next step. Call 03 9939 7576, email [email protected]

Should you wait for more cuts or buy now?

Posted on 28/07/202522/08/2025 by Hunter Scribe

It’s the question on many buyers’ minds right now: Should you wait for the Reserve Bank of Australia (RBA) to make more rate cuts, or take action now?

At face value, it might seem smart to wait. After all, lower rates could increase your borrowing power and reduce repayments. But in practice, trying to time the market perfectly can backfire.

Whether you’re looking to upgrade or invest in property in Melbourne, weighing up the risks of waiting versus buying now comes down to your goals, finances and how the market is moving.

The cost of waiting

For buyers looking to upgrade or invest, delaying your move might seem prudent in uncertain times, but it can come at a significant cost:

Missed capital growth

Property values in desirable Melbourne suburbs tend to appreciate over time. Every month spent waiting could mean missing out on potential capital growth. For instance, Melbourne’s median dwelling value declined over the last two years, but since the beginning of 2025 has started to recover. Over the June 2025 quarter, the city’s median dwelling value grew 1.1%, according to Cotality. Over the last 10 years, prices have grown 40.6%.

This recovery suggests buyers waiting for a clear turning point may already be behind it. The long-term growth shows how property continues to deliver value. Short-term rate fluctuations tend to have less impact over time than buyers expect. What matters more is getting into the market early enough to benefit from compounding capital growth.

Increased competition

In the week ending 20 July, only 586 homes were scheduled for auction in Melbourne, according to PropTrack – 9% fewer than the same week in 2024. This subdued activity is partly due to the RBA’s decision to hold rates steady in July, prompting some sellers to delay listing their homes.

But even before that, stock levels had been lagging. SQM Research also reports that total listings in Melbourne were down 0.8% year-on-year in June.

At the same time, buyer demand is picking up. The Westpac-Melbourne Institute’s July 2025 consumer sentiment bulletin shows rate expectations are at their lowest point in 13 years, and the ‘time to buy a dwelling’ index has risen 16.9% compared to a year ago.

With fewer properties on the market and more buyers regaining confidence, the balance between supply and demand is tipping. If this trend continues, it could lead to tighter competition, faster selling conditions and further price pressure.

Reduced purchasing power

Even small increases in property prices can have a significant impact on what you can afford. Domain is predicting Melbourne’s prices will climb 6% for houses and 5% for units over the 2025-26 financial year. If you are looking at a median-valued house, that’s $66,000 added to the asking price over the next year.

As prices rise, your borrowing capacity may not stretch as far, meaning you could be priced out of your preferred location or need to compromise on property features.

The risks of buying too quickly

While the costs of waiting can be significant, it’s also true that rushing into a purchase without due diligence carries its own set of risks:

Overpaying

Buying quickly without thorough market research can lead to paying more than necessary. A rushed decision might mean missing a better deal if the market shifts.

Emotional bidding, particularly at auctions, can also lead to paying more than a property’s true market value, which can reduce your potential gains.

Overlooking hidden issues

Skipping proper due diligence, such as thorough building inspections, can expose you to costly repairs or legal complications down the road. According to research done by the Australian Housing and Urban Research Institute in 2024, 70% of homes had some building quality problems. Cracks in the walls were the most common issue (44%), followed by mould (35%) and plumbing issues (27%).

Rushing the process increases the chance of missing these critical problems, which can affect both your finances and peace of mind.

Getting thorough pest, building and structural inspections before committing is essential. These reports help you uncover hidden issues early, so you avoid costly surprises later and can negotiate confidently.

Compromising your strategy

Purchasing a property that doesn’t align with your long-term goals can set you back financially and emotionally. Whether it’s location, property type or loan structure, buying without a clear strategy may result in costly compromises, such as higher ongoing costs or difficulties when you decide to sell or rent out the property.

You can’t time the market, but you can be ready

With prices recovering and competition rising, waiting could mean missing out. But market conditions can change anytime, and no one can pick the perfect time. Being financially ready, strategically prepared and confident enough to act when the right property comes up is what matters.

Instead of trying to predict the market, focus on what you can control:

Define your property strategy

Decide what you are looking to achieve with this purchase. Is it an upgrade on your current family home? Or are you buying an investment property to build long-term wealth?

Knowing your goals will help narrow your search and prevent decision fatigue. It also helps you weigh up trade-offs with greater clarity, so you’re not distracted by properties that don’t serve your purpose.

Know your borrowing power

Understanding what you can afford today is key. Lenders’ policies, interest rates and your financial circumstances all play a role in determining your borrowing capacity. Assessing your borrowing power involves a comprehensive look at your income, expenses, existing debts and desired loan structure.

Getting this clarity upfront means you can move quickly and decisively when the right property comes along, without the last-minute scramble of understanding your limits.

Get expert guidance

Surrounding yourself with the right experts can make the process smoother, faster and ultimately more rewarding. A mortgage broker can help you identify your borrowing power, compare suitable products from dozens of lenders and find a loan structure that suits your goals.

Still wondering whether to wait or buy now?

A good mortgage broker in Melbourne, like AXTON Finance, will help you answer the bigger question: is now the right time for you to buy?

We’ll guide you through weighing the pros and cons of buying now versus waiting, based on your unique financial position and property goals. We prepare you for a confident next step – whether that means acting quickly or holding back for the right opportunity.

If you’re unsure whether to wait or buy, talk to AXTON Finance today. Call 03 9939 7576, email [email protected] or click here to get started.

Everything you need to know about stamp duty exemptions in Victoria

Posted on 21/07/202523/08/2025 by Hunter Scribe

If you’re buying a property in Victoria, you’ve likely come across the term stamp duty. It’s a major cost that can add tens of thousands of dollars to your budget. But the good news is, you might not have to pay the full amount.

Whether you’re a first home buyer, pensioner or looking at an off-the-plan property, there are stamp duty exemptions and concessions in Victoria that could save you a significant amount.

However, these reliefs and eligibility rules can change frequently, so it’s important to stay up to date and get expert advice.

What is stamp duty and why does it matter in Victoria?

Stamp duty, also called land transfer duty, is a tax you pay when you buy property in Victoria and is paid to the State Revenue Office (SRO).

The calculation of stamp duty in Victoria is based on the “dutiable value” of the property. This is usually the higher of either the purchase price or the market value of the property. The rates are applied on a sliding scale, meaning the higher the property value, the greater the amount of stamp duty you’ll pay.

Land transfer duty for contracts entered into on or after 1 July 2021

Additionally, the usage of the property, such as whether it’s your primary residence or an investment, can also influence the duty payable.

Fortunately, various stamp duty exemptions and concessions are available to eligible buyers, helping to reduce this significant upfront cost.

Who is eligible for stamp duty exemptions in Victoria?

Victoria offers several pathways to reduce your stamp duty burden. Eligibility for these exemptions and concessions largely depends on your circumstances and the nature of the property purchase.

First home buyers

If you’re purchasing your first home in Victoria, you could join the more than 40,000 first home buyers who received stamp duty relief in the 2023-24 financial year, according to the SRO (see table).

The first home buyer Victoria stamp duty exemption or concession is only available to you once. If you or your partner has previously benefited from the first home buyer exemption, you can’t receive it again.

Pensioners

Eligible pensioners and concession card holders may qualify for a pensioner concession. If you’re purchasing a home valued at $600,000 or less, you may qualify for a full exemption. Homes valued from $600,001 to $750,000 may qualify for a concession. This only applies to properties that you intend to use as your principal place of residence (PPR). If you are buying your first home, you may also be eligible for other concessions and benefits.

Off-the-plan buyers

The Victorian government offers concessions for off-the-plan purchase, as well as a temporary concession (available until October 2026) for new builds in strata subdivisions with common property.

Principal place of residence

If you intend to live in the property as your primary home for a continuous period of at least 12 months, you may be eligible for a concession. This is available to all home buyers, not just first home owners, if your property is valued up to $550,000.

First home buyer stamp duty concessions in Victoria

According to the Australian Taxation Office (ATO), 37,882 first home buyers took out new home loans for their PPR in 2024. This was an 11.2% increase from 2023.

If you’re one of the many first home buyers planning to purchase soon, knowing what financial relief you’re entitled to is a smart first step.

As a first home buyer in Victoria, you could receive:

A full stamp duty exemption for properties with a dutiable value of $600,000 or less. This means you pay no stamp duty at all, representing substantial savings.
A concession for properties with a dutiable value between $600,001 and $750,000. The amount of the concession scales down as the property value increases within this range.

For example, if your first home is valued at $595,000 you will pay no stamp duty. This saves you around $30,770.

If your home costs $700,000, your payable duty will be $24,713. But, without the first home buyer concession, this would jump to $37,070.

If you paid $800,000 for your first home, you are over the concession threshold and will pay the full $43,070 (unless other exemptions apply).

First home buyers in Victoria can benefit from both the stamp duty concession or exemption, as well as the First Home Owners Grant (FHOG). The FHOG is a direct payment for new homes, while the stamp duty concession is a reduction in the amount of land transfer duty you pay.

Off-the-plan stamp duty concessions: What you need to know

Buying off the plan (before construction or while it’s underway) may qualify you for stamp duty relief. In Victoria, there are two types of concessions that could apply:

1. Dutiable value concession

When purchasing an established home, you pay stamp duty on the dutiable value of your property. This is usually what you paid for it or the market value. However, for the off-the-plan concession, the dutiable value is the contract price minus the construction costs incurred after you signed the contract. As this reduces the dutiable value, you will likely pay less stamp duty.

For example, you make an off-the-plan purchase for $620,000. Of that amount, your builder says $465,000 will be used to construct your home. That means your dutiable value will be $155,000 (contract price of $620,000 minus construction costs of $465,000.

Eligibility for this concession can depend on your contract date and any other concessions you may qualify for. It is recommended you speak to a mortgage broker to verify.

2. Temporary off-the-plan concession

Introduced in 2024, under this concession, all buyers (including investors) are eligible for a concession on off-the-plan purchases within strata subdivisions that have common property. This can include apartments and townhouses.

The temporary concession was due to end in October 2025 but has subsequently been extended to apply to all eligible purchases up to 20 October 2026.

How to apply for stamp duty exemptions in Victoria

Applying for a Victoria stamp duty exemption or concession usually occurs as part of the conveyancing process. Your conveyancer or solicitor will typically apply for the exemption or concession as part of the electronic conveyancing process, but it’s good to understand the steps involved.

Here’s a general guide to the application process:

1. Gather all documents

You’ll need to provide documentation to prove your eligibility. This commonly includes:

A copy of the contract of sale
Title details and transfer of land documentation
Proof of residency, if applicable (e.g. driver’s licence, utility bills)
Concession card details for pensioner exemptions
Any other supporting evidence for your claim (e.g. proof of being a first home buyer)

2. Complete the Digital Duties form

The SRO mandates the use of the Digital Duties Form for all land transfer duty transactions. This online form is where your conveyancer will declare details of your property purchase and apply for any eligible Victoria stamp duty exemptions or concessions.

3. Await response

Once submitted, the SRO will assess your application and notify you of the outcome. If approved, the stamp duty payable will be adjusted accordingly.

Common mistakes and things to consider when applying

While stamp duty exemptions or concessions can offer significant savings, it’s also important to be aware of the potential ways you could be disqualified and other common mistakes:

Buying over the threshold amount

Be vigilant about property values. If your property’s dutiable value exceeds the maximum threshold for a full exemption, you may only qualify for a concession or no exemption at all.

Using the property as an investment (when not allowed)

Some stamp duty concessions in Victoria are conditional on the property being your primary home. Using it as an investment property or failing to move in within the stipulated timeframe (usually 12 months) can lead to your exemption being revoked and duty becoming payable.

Failing to meet residency requirements

For concessions tied to your PPR, you must generally reside in the property for a continuous period (at least 12 months). If your circumstances change and you cannot meet this requirement, you must notify the SRO.

Incorrectly completing documentation

Errors or omissions on the Digital Duties Form or supporting documents can delay your application or even lead to rejection. Double-check all details, including contract dates, prices and personal information.

Not accounting for other costs

Stamp duty exemptions only relate to the transfer of the land or property itself. You will still be responsible for other property costs including legal fees, conveyancing fees, building and pest inspections and loan fees.

How AXTON Finance can help you navigate stamp duty exemptions in Victoria

Understanding stamp duty exemptions in Victoria can be overwhelming – especially when it comes to eligibility criteria, property price thresholds and paperwork. That’s where we come in.

At AXTON Finance, we’re experienced Melbourne mortgage brokers, with a deep understanding of Victoria’s property processes. That means we know all the ways to save on your home purchase, including which Victoria stamp duty exemptions or concessions you may be eligible for.

From first home buyers to off-the-plan purchasers, our team works closely with you to make your home buying journey as smooth – and cost-effective – as possible.

Get in touch with AXTON Finance today for expert advice on loans, grants and exemptions tailored to your unique circumstances. Call us on 03 9939 7576, email [email protected] or click here to get in touch.

What’s behind Melbourne’s rising property prices and what buyers need to know

Posted on 11/07/202527/08/2025 by Hunter Scribe

After a challenging few years, Melbourne’s property market is staging a comeback. New data confirms that the city’s long-awaited price recovery is taking hold, driven by a combination of relative affordability, population growth, easing economic pressures and renewed buyer confidence.

What’s happening with property prices?

Melbourne home values are rising again. PropTrack’s June 2025 home value index revealed that dwelling values climbed for the fourth consecutive month, taking annual growth into positive territory (1%) for the first time in over two years.

The city’s median house value now sits at $979,000, with units at $609,000.

Domain expects this growth to continue, forecasting Melbourne’s median house price to hit $1.11 million by the end of the 2025-26 financial year – a 6% increase year-on-year. That would mark a full recovery from the 2022–2024 downturn. Units are projected to climb 5% to $584,000.

What’s behind Melbourne’s rising property prices?

Affordability advantage fuels demand

One of Melbourne’s key selling points is its relative affordability compared to other major cities. In 2019, Sydney houses were 26% more expensive than those in Melbourne, according to Domain. As the graph below shows, by March 2025, that gap had grown to 63%.

Meanwhile, Brisbane and Perth have now caught up to Melbourne on price, eroding the cost advantage they offered in recent years.

In fact, as of June 2025, PropTrack’s data has Melbourne ranked sixth-most expensive city for median dwelling value, behind Sydney, Brisbane, Canberra, Adelaide and Perth.

This shift is drawing interest from price-sensitive buyers and interstate investors, particularly as borrowing conditions ease.

Strong population growth

Another factor bolstering Melbourne’s outlook is population growth. After falling behind during the pandemic years, in 2024 Victoria’s population grew at the second-fastest rate of all states at 1.9%, according to the Australian Bureau of Statistics.

The state accounted for 30% of the nation’s total population increase, its largest share in over a decade.

This growth drives long-term demand for housing. More people mean more competition for properties, particularly in high-demand suburbs close to employment, education and transport hubs.

Interest rate cuts boost buyer confidence

A timely driver behind Melbourne’s property market turnaround has been the Reserve Bank of Australia’s (RBA) recent interest rate cuts. After a prolonged period of rate hikes aimed at cooling inflation, the RBA has now cut the cash rate twice in 2025, signalling a clear shift in monetary policy.

Lower interest rates have a direct impact on buyer sentiment and affordability. As mortgage repayments ease, more buyers can enter the market, and existing buyers can stretch their budgets further. This creates increased competition for available properties, which in turn puts upward pressure on prices.

Although the RBA surprised markets by holding the cash rate in July, it is likely that there are more cuts to come. With inflation continuing to trend lower and economic conditions softening, many economists anticipate further reductions in the cash rate into 2026.

The RBA board itself forecasts the official cash rate will drop to 3.2% by mid-2026.

The prospect of lower rates is fuelling a sense of urgency among buyers hoping to purchase before the market accelerates further.

As borrowing capacity improves and confidence returns, interest rate cuts are helping to reignite the growth cycle, particularly in markets like Melbourne, where prices had previously stagnated.

What do buyers need to know?

Consider units if houses are out of reach

While both houses and units are experiencing growth, house prices are expected to recover fully from the 2022-24 downturn and reach new records by the end of the 2025-26 financial year, according to Domain.

Unit prices, while rising, are likely to lag behind and remain below their 2021 peak by June 2026. So while houses are leading Melbourne’s recovery, units offer a more affordable entry point.

Look beyond the inner suburbs

Outer and regional suburbs are playing a major role in Melbourne’s recovery. According to the Real Estate Institute of Victoria, Melbourne’s outer suburbs, such as Frankston, Frankston South and Rockbank have shown significant growth up 9%, 12.8% and 8.8% respectively in the June 2025 quarter.

Be ready to compete

Buyer demand is picking up quickly, but the number of properties for sale hasn’t kept pace. Total listings were down 0.8% year-on-year in June, according to SQM Research, tightening supply and intensifying competition across many price points.

Get your finance sorted early

With prices on the rise, borrowing power improving and listings still tight, this is a critical moment for Melbourne buyers. Acting early, and with the right support, can make all the difference.

Having pre-approval in place and a clear understanding of your budget can give you an edge in a fast-moving market, especially when the right property doesn’t stay available for long.

Additionally, working with a Melbourne mortgage broker like Axton Finance, with a deep understanding of the Melbourne real estate market, can help you understand your options, secure competitive rates and act quickly when the right property comes along.

Ready to capitalise on Melbourne’s rebound? Axton Finance can help you make the most of today’s conditions. As a trusted Melbourne mortgage broker, we’ll guide you through your options, maximise your borrowing power and structure your loan for long-term success. Call us on 03 9939 7576, email [email protected] or click here to get in touch.

How a Guarantor Can Help You Buy Your First Home

Posted on 13/09/202424/09/2024 by Rix Almonicar

Buying your first home can feel like a distant dream, especially with rising property prices, high-interest rates, and increasing living costs. However, one way to make that dream a reality is by using a guarantor for your mortgage. A guarantor, often a parent or close family member, can help you access the property market sooner and potentially reduce some of the costs associated with buying a home. But what does this mean for you, and how does it work?

What is a Guarantor Mortgage?

A guarantor mortgage allows you to use another person’s property as additional security for your home loan. This doesn’t mean they’re buying the home for you or making your payments; instead, they’re offering part of their property as security to help you avoid Lender’s Mortgage Insurance (LMI) and possibly secure a lower interest rate. Essentially, it can help you get into your new home sooner and with less upfront cash.

How Can a Guarantor Help You?

There are several ways a guarantor can assist you in purchasing your first home:

Avoiding LMI Costs: LMI is an insurance premium you might need to pay if your deposit is less than 20% of the property’s value. By having a guarantor, you can potentially avoid this cost altogether, making your home purchase more affordable.
Lowering Interest Rates: With the additional security provided by a guarantor, lenders may offer you better interest rates. Lower rates mean lower monthly repayments, saving you money over the life of the loan.
Increasing Your Borrowing Power: A guarantor can also help increase the amount you’re eligible to borrow. This could be particularly useful in a competitive market where you need extra funds to secure your desired property.

How Does a Guarantor Mortgage Work?

A guarantor mortgage can be structured in several ways, depending on the lender and your specific situation:

Partial Guarantee: Your guarantor provides security for a portion of the loan, typically around 20%. This helps you reach the necessary deposit threshold and avoids LMI without making your guarantor liable for the entire mortgage amount.
Full Guarantee: In some cases, the guarantor might cover the entire amount above what you can provide as a deposit. This can be particularly helpful if you have little savings but have good income and a guarantor willing and able to help. However, this option can increase their financial risk, so it’s important to discuss this carefully.

Is a Guarantor Mortgage Right for You?

Using a guarantor can be a great way to enter the property market sooner, but it’s essential to consider the implications carefully:

Understand the Risks to Your Guarantor: While a guarantor can help you avoid extra costs and potentially lower your interest rates, it’s crucial to understand the risks they’re taking on. If you severely default on your mortgage payments, your guarantor could be responsible for covering the outstanding debt. This could put their property at risk if they are unable to cover the payments in an extreme situation.
Consider Your Financial Stability: Before asking someone to be your guarantor, assess your own financial situation. Are you in a stable job? Do you have a reliable income? Can you comfortably afford the mortgage repayments? Ensuring you can meet your repayments will protect both you and your guarantor from financial strain.

Steps to Take Before Using a Guarantor

Discuss with Your Family: Open communication with your potential guarantor is crucial. Make sure they fully understand what being a guarantor entails, including the risks and responsibilities.
Seek Professional Advice: It’s always a good idea to speak with a mortgage broker to explore your options and understand the best way to structure a guarantor loan. At AXTON Finance, we can provide you with tailored advice to suit your situation.
Legal and Financial Consultation: Encourage your guarantor to seek independent legal and financial advice. This ensures they’re fully aware of their obligations and the potential impact on their finances.
Plan for the Future: Have a plan for how you’ll release your guarantor from their obligations. This could be through repaying the loan to below 80% of the property’s value or refinancing when your financial situation improves.

Alternatives to a Guarantor Mortgage

If you or your potential guarantor are uncomfortable with the risks involved, consider other options:

Saving for a Larger Deposit: While it might take longer, saving for a larger deposit can reduce or eliminate the need for LMI and lower your loan amount, making repayments more manageable.
Co-Borrowing: Instead of a guarantor mortgage, consider co-borrowing with a family member. This means both of you are responsible for the loan and can share the repayments. However, this option also comes with its own set of complexities and risks.
Financial Gifts: Your parents or family members could gift you the money needed for a deposit. This would reduce the amount you need to borrow without tying their property to your loan.

Get Started with AXTON Finance Today

Navigating the complexities of buying your first home can be challenging, but you don’t have to do it alone. At AXTON Finance, our team of experienced mortgage brokers is here to guide you every step of the way. Whether you’re considering a guarantor mortgage or exploring other options, we can provide expert advice tailored to your needs. Contact us today to learn more about how we can help you achieve your homeownership dreams while protecting the interests of both you and your family.

Can You Use Your Super to Buy a House?

Posted on 05/09/202424/09/2024 by Rix Almonicar

Dreaming of owning your first home or expanding your property portfolio? You might be surprised to learn that you can use your superannuation to make it happen. Whether you’re eyeing the First Home Super Saver (FHSS) scheme or considering a self-managed super fund (SMSF), there are pathways available to help you step into your new home faster. Read on to find out how you can unlock the power of your super to achieve your property goals!

How Can You Leverage Your Super to Buy a House?

Ever wondered if your superannuation can help you buy a home? The short answer is yes, but it’s a bit more intricate than just stumping up a deposit for a standard home loan. You have two interesting options: the First Home Super Saver (FHSS) scheme and using a self-managed super fund. Each offers unique benefits and is tailored for different needs—whether you’re a first-time buyer or already managing an SMSF. Curious to see how these options can work for you? Let’s dive in!

Exploring the First Home Super Saver Scheme

The FHSS scheme is a federal government initiative that helps first-time buyers save for a home deposit within their super fund. With potentially better returns than a high-interest savings account, thanks to the lower tax advantages of superannuation, it’s an opportunity worth considering.

How Does It Work?

The FHSS scheme lets eligible first-time home buyers make voluntary contributions to their super fund, up to $15,000 per year, both before-tax and after-tax. These contributions benefit from a lower tax rate of just 15%, compared to the regular tax rates. Contributions from your employer and any additional voluntary payments count towards this cap.

Who Can Take Advantage?

To make the most of the FHSS scheme, you need to meet a few criteria:

Be at least 18 years old when applying for a FHSS determination or release (but you can contribute before turning 18).
Be an eligible first-time home buyer with no previous property ownership in Australia, including investments, vacant land, or commercial properties.
Plan to move into the property within a reasonable time and live there for at least six months within the first year.
Have not previously requested a FHSS release.

One benefit is that eligibility is assessed individually, so couples, friends, or family members can combine their FHSS contributions to purchase the same property!

Can a Mortgage Broker Help with the FHSS Scheme?

Absolutely! A licensed mortgage broker, like us here at AXTON Finance, can be your guide through the FHSS maze, offering:

Expert Insights: Navigate the complexities of home loans and government schemes with ease.
Financial Evaluation: Determine how much you can contribute and withdraw.
Loan Recommendations: Find the perfect loan to match your FHSS goals.
Application Assistance: Get help with paperwork to avoid mistakes.
Pre-Approval Guidance: Know your budget with pre-approval support.
Ongoing Help: Receive support throughout your home buying journey.

Connect with an experienced Axton Finance mortgage broker to harness the full potential of the FHSS scheme.

Using a Self-Managed Super Fund (SMSF) to Buy Property

Another exciting option is using an SMSF to buy property. While more complex, it offers a chance to invest in real estate through your super. Note that SMSFs can’t be used for personal residences, but you can buy investment properties.

How Does It Work?

To purchase property with an SMSF:

Your SMSF should have a substantial balance (ideally $200,000 or more).
Maintain a liquidity buffer of about 10% of the property’s value so that you don’t completely drain your fund.
Be aware of borrowing restrictions; you can’t use the entire fund balance for the purchase, use the property for any personal reason, lease it to friends or family and there are restrictions around what sort of renovations/developments can be made.

How Much Can You Use?

For SMSF borrowing, your balance will influence what you can borrow. Most lenders will allow you to borrow up to 60-80% of the value of the property being purchased. For example, with a $300,000 SMSF balance, you might use $200,000 as a deposit to borrow $400,000 for a $600,000 investment property. This would be approximately a 66% LVR (Loan to Valuation Ratio).

For tailored mortgage advice that fits your unique situation, consult an Axton Finance mortgage broker in Brisbane or nearby locations.

How Can Axton Finance Help You Reach Your Property Goals?

Whether you’re buying your first home or investing in property, the Axton Finance team are here to guide you through using your superannuation effectively. Whether it be via a purchase within your SMSF (Self Managed Super Fund) to building a better deposit to buy your first home via the FHSS (First Home Savers Scheme), we’re ready to help you achieve your property dreams faster. Contact us today to get started!

Why Income is Key to Getting Your Loan Approved?

Posted on 04/09/202424/09/2024 by Rix Almonicar

When you’re applying for a home or investment loan, your income is one of the most important factors lenders consider. It helps them decide if you can afford the loan and how much they’re willing to lend you.

What is Borrowing Capacity and Why Does It Matter?

Borrowing capacity is simply how much a lender thinks you can afford to borrow based on both their rules and government affordability guidelines for regulated credit. This is based on all of your assessable income, current debts, and other financial commitments. Knowing your borrowing capacity is essential because it ensures that you’re taking on a loan you can manage without financial stress.

Why Your Income Matters Most

Your ability to make regular loan repayments—what lenders call “servicing income”—is crucial. Lenders look at different types of income to see if you can handle the loan, including:

Your Salary or Wages
Part-Time and Overtime Pay
Income from Casual Jobs (usually with a consistent income over 3-6 months)
Rental Income
Dividends from Investments
Income from a Trust
Business Profits
Some Government Pensions
Insurance Payments

For certain incomes, like bonuses, lenders might only count a portion (say 80%) to account for any variability.

Equity and Debt-to-Income Ratio: Why They Matter

While having equity (like owning a portion of your home) is important, your ability to make repayments is even more critical. Lenders also check your Debt-to-Income (DTI) ratio, which ideally should be less than six times your gross income. This ratio helps them ensure you’re not taking on more debt than you can handle.

The Buffer

Australian banks are required by APRA (The Australian Prudential Regulation Authority – the regulatory body in Australia that oversees the financial services industry to ensure the stability, safety, and soundness of financial institutions) to add a three (3) percent margin to the actual home loan rate to ensure that you home loan repayment is manageable should interest rates rise.

At the time of writing this article (September 2024) it is generally expected that we are at or near the height of the current rate increasing cycle that started in May 2022 when the RBA raised the official cash rate from the historically low level of 0.10% to 0.35%, marking the beginning of its efforts to tighten monetary policy in response to rising inflation.

So while we are near the absolute highest rates are likely to go the three percent buffer has reduced peoples borrowing capacity by a significant degree and in some cases it has even restricted people being able to refinance loan limits they already have even if it results in a cheaper repayment (there are exceptions to this rule so call us to learn more).

Credit Score and Reporting

Your credit score plays a significant role in loan approval. In Australia, VEDA and Illion are the main credit reporting agencies in Australia. A VEDA score below 500 can make it tough to get approved, while a score of 750 or above is ideal. Positive credit reporting gives lenders a clear view of your credit history with other financial institutions, so when looking to get pre approved for any form of finance it’s important to keep your repayments on time and avoid defaults.

Tips to Boost Your Borrowing Capacity

If you want to increase your borrowing capacity, here are some steps you can take:

Reduce or Close Credit Card Limits: High credit limits can reduce how much you can borrow.
Avoid Buy Now, Pay Later Services: Services like Afterpay and Zip Pay can indicate you’re stretching your budget to a potential lender
Limit Credit Applications: Too many applications can hurt your credit score.
Cut Down on Car Loan Repayments: These can eat into your ability to afford a new loan.
Stick to a Budget: Lenders will ask about your living expenses, so cutting back before applying for a mortgage can help show you’re ready to manage the repayments.

Take the Next Step

Curious about how much you can borrow? Find out with AXTON Finance expert mortgage broker in Sydney today by booking a quick 15-minute FREE discovery meeting here.

How to minimise your mortgage with an Interest Free Credit Card and an Offset Home Loan

Posted on 13/05/202413/05/2024 by Nick

Offset accounts can significantly enhance the financial benefits of a mortgage loan, especially when used in tandem with simple tools like an interest-free credit card. This article explores how coupling offset accounts with the clever use of interest-free credit cards can create a powerful saving strategy, particularly for those with substantial mortgage balances and good household incomes.

Understanding Offset Accounts

An offset account is a bank account linked directly to your mortgage that has the usual functionality of an everyday account such as being able to have a debit card, Apple/Android Pay, branch withdrawals and deposits etc. The money held in this account is offset daily against the mortgage balance, and interest is charged only on the net balance. It is important to note that the offset account itself does not earn interest – it offsets it’s balance against your home loan. For instance, if you have a mortgage of $1,000,000 and an offset account balance of $50,000, you will only be charged interest on $950,000. This setup can lead to significant interest savings over time, reduce the term of your mortgage, and increase your equity. Offset accounts are particularly beneficial as they provide flexibility in accessing funds, unlike direct repayments into the mortgage which may be less frequent and require a higher level of discipline to action each month.

Multiple Offset Accounts

There are a handful of banks and lenders who offer multiple offset account structures that enable you to aggregate the combined account balances against a single mortgage account. This is great if you like better financial control and have funds put aside for large bills, your children’s education costs, taxation provisions, savings for a holiday or any other purpose you can really think of. Multiple offset account structures are a great tool for both saving on interest and maintaining purpospeful liquidity for day-to-day needs.

The Role of Interest-Free Credit Cards in Financial Management

Interest-free credit cards have been around for a long time now and of course offer a period during which no interest is charged on purchases, typically ranging from 30-55 days. When used wisely, these cards can manage cash flow without incurring extra costs, thus allowing any spare cash to sit in your offset account for as long as possible, further reducing the mortgage balance subject to interest. The key to maximizing the benefit from interest-free credit cards lies in responsible spending and consistent repayment within the interest-free period. This ensures that all your available cash can remain in the offset account, working to decrease your mortgage interest obligations, without accruing additional debt from credit card use.

Using Offset Accounts with Interest-Free Credit Cards

Utilizing both an offset account and an interest-free credit card together can significantly amplify your savings. Here’s how to synchronize these financial tools effectively:

Direct Income into an Offset Account: Route all of your income directly into your offset account. This increases your average daily balance, which reduces the interest on your mortgage each month – this can have a powerful compounding effect over time.
Use Credit Card for Expenses: Use your interest-free credit card for daily expenses. This approach keeps more money in your offset account for a longer period during the month, maximizing the interest savings on your mortgage. There is of course the added benefit that many credit card companies offer customers frequent flyer points affiliated with the major Australian Airlines Qantas and Virgin – you may be surprised at how quickly you will rack up those frequent flyer points for your next trip!
Pay Off Credit Card From your Offset Account: Before the end of the interest-free period on your credit card (typically 30-55 days), pay the balance using the funds from your offset account. This method ensures you avoid interest charges on your credit card while keeping your offset account balance high throughout the month. Many credit card companies enable you to have an automatic sweep of the monthly balance due to automate and streamline the efficiency of paying the card bill on the very last day its due. This maximizes the benefit of the money in your control and minimizes the manual effort required to administer the money smart procedure.

Case Study: $1,000,000 Mortgage with an Offset Account

Consider a hypothetical scenario: a homeowner with a $1,000,000 mortgage at a 6.0% annual interest rate over a 30-year term. Suppose this homeowner maintains an average of $50,000 in their offset account and spends $3,000 monthly using an interest-free credit card, which they pay off at the end of each month from the offset account.

Calculation: Without the offset account, the monthly interest would be calculated as $5,000 initially ($1,000,000 x 6% / 12 months). With $50,000 in the offset account, the interest reduces to about $4,750 monthly ($950,000 x 6% / 12 months), saving $250 per month or $3,000 annually. Over the life of the loan, this strategy alone could save approximately $90,000 in interest.

So as you can see having a basic understanding of how offset accounts work and how they can help save your thousands in interest. Not all offsets are created equaly though as many lenders limit customers to only one offset (not multiple) or ‘partial offset’ arrangements rather than 100% offset so it pays to get qualified advice.

Offset home loans are typically marginally more expensive because of a slight loading on the interest rate charged or the fees payable so if you have limited monthly cashflows there maybe diminishing returns for having an offset account. Some loans in certain entities like trusts or companies or for expat / overseas borrowers are not always allowed to have offset accounts linked.

Overall offset home loans are a fantastic feature that may be able to help you pay off your loan sooner. Why not book a time with us today to discuss your needs and to determine if an offset home loan is suitable for you. We have over 30 major banks and non bank lenders that we can compare for you today.