🏠 Mortgage Choice · Prepared for Craig & Sharni

Your proposed loan structure

77 Mitchell St, Cunderdin (refinance) → 196 Wilson St, Meckering (purchase)

Working example: rates below are Liberty Financial “Custom” tier (available now). Wilson Street is a stand-in for a similar $400–420k on-grid acreage. The lender needs mains power, mains water and a sealed road, so this specific Meckering property is unlikely to proceed as shown. Final figures depend on the property you settle on and full application approval.

The two loans

These figures are fixed, based on Liberty Custom tier pricing (up to 65% LVR at 7.64% p.a., up to 75% LVR at 8.14% p.a.).

Current home ↗

Mitchell Street 🔒 fixed

77 Mitchell St, Cunderdin WA 6407 · refinance to release equity

Property value$275,000

Loan amount$200,000

Interest rate8.14% p.a.

Repayment$1,487 / month

Loan-to-value ratio (LVR)73%

196 Wilson Street, Meckering - proposed purchase

Working example ↗

Wilson Street 🔒 fixed

196 Wilson St, Meckering WA 6405 · stand-in for similar on-grid purchase

Property value$420,000

Loan amount$273,000

Interest rate7.64% p.a.

Repayment$1,935 / month

Loan-to-value ratio (LVR)65%

Where the money comes from

The purchase price, the gap it leaves, and how the Mitchell Street equity covers it.

Wilson Street purchase price$420,000

Less: new loan on Wilson Street−$273,000

Cash gap to fund$147,000

Plus: costs, allow 3%
stamp duty, conveyancing and legal fees, loan establishment fees+$12,600

Total cash needed$159,600

Funded by: equity released from Mitchell Street$200,000

Buffer left over$40,400

The exact split of the $12,600 cost allowance will be confirmed once contracts are exchanged, this figure is a standard planning allowance.

Your monthly position

Drag the rent sliders to see how the numbers move. Defaults are the bank's conservative estimates used for serviceability, not a promise of what either property will rent for. The combined cash figure can look confronting in red, so it is also split by property: Mitchell Street is closer to covering itself, and most of any shortfall sits against the new purchase loan.

Mitchell Street rent (per week)$395

Wilson Street rent (per week)$320

Money coming in, rent

Mitchell Street rent$1,712 / month

Wilson Street rent$1,387 / month

Total rent coming in$3,098 / month

Money going out, loan repayments

Mitchell Street repayment (8.14% p.a.)$1,487 / month

Wilson Street repayment (7.64% p.a.)$1,935 / month

Total loan payments going out$3,422 / month

Money going out, standard ongoing property costs*

Mitchell Street$308 / month

Wilson Street$250 / month

Total ongoing property costs$558 / month

Mitchell Street cash - Wilson Street cash -

Combined cash positionrent less repayments and ongoing costs −$881

*Standard ongoing property costs, rates, insurance, property management and maintenance, estimated at around 18% of each property's gross rent. Figures are gross cash estimates. Actual costs will vary, and tax outcomes depend on personal circumstances, check with your accountant.

Growth & equity, 10-year illustration

Choose a growth scenario to see how combined equity across both properties could build over time. This is an illustration only, actual growth will vary.

Point in time	Combined property value	Combined loan still owed to the bank	Your equity
Today	$695,000	$473,000	$222,000
In 5 years	-	-	-
In 10 years	-	-	-

Each block below shows one point in time. The sentence above each bar spells out the property value, how much is still owed to the bank, and how much would be your equity, the grey part of the bar is the loan, the teal part is your equity.

Loan still owed to the bank Your equity

Figures are estimates for illustration only, based on the assumptions shown. They are not a guarantee of future value, rent or approval, and are not personal financial advice. Please speak with Troy before relying on any figure.

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