A couple with two newborn children wanted to buy their next home for $1,670,000 before selling their current one, with one partner on maternity leave until January 2027. We structured it as a bridging loan with St George.
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A mechanical design technician with around five years at his employer, and a chemist with more than three years at hers, currently on maternity leave after the arrival of their two children.
Their current home has been owned since May 2022, and they had $608,353 in savings to put toward the next one. They had found a home in the same suburb and did not want the purchase to hinge on when their current home sold.
They first applied through their existing lender, then decided a bridging loan suited them better, which meant moving lenders.
Their income also looked weaker on paper than it was. One partner was not due back at work until January 2027, and the other had a year-to-date income below his current base wage.
| Item | Position | Issue for a lender |
|---|---|---|
| Current home | $1,300,000 expected sale price, existing loan to be refinanced | Not yet sold |
| New home | $1,670,000 | Purchase proceeds before the sale |
| His income | $101,500 base | Year-to-date income lower after unpaid paternity leave and a $15,500 pay rise in March 2026 |
| Her income | $89,537 on return to work | On maternity leave until January 2027 |
| Savings | $608,353 | — |
| Metric | Figure |
|---|---|
| Lender | St George |
| Purchase price | $1,670,000 |
| Expected sale price, current home | $1,300,000 |
| Bridging loan | $1,105,000 |
| Peak debt | $1,914,344 |
| Peak LVR | 64.45% |
| End debt | $690,000 |
| End LVR | 41.31% |
| Product | Standard variable package with offset |
| Income accepted for servicing | $191,037 |
At its peak, with both homes held, total debt is $1,914,344 against $2,970,000 of property. Once the current home sells, debt falls to $690,000, secured against the new home alone.
| Measure | Peak, before the sale | End, after the sale |
|---|---|---|
| Debt | $1,914,344 | $690,000 |
| Property securing the debt | $2,970,000 | $1,670,000 |
| LVR | 64.45% | 41.31% |
See debt recycling for growing families and our guide to parental leave and changes in income.
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1. Arranged a loan when our small business situation made it difficult to qualify.
2. Met requirements to have funding available by a specified date.
3. Understood my needs to setup debt recycling to allow tax structuring.
4. Communicated well throughout.
I would use their services again.
Alex, Jess and the Kingfisher team were second to none and their process from start to finish was faultless. As a self-employed business owner, it can be difficult to obtain finance at the best of times. The Kingfisher team made this an easy and efficient proposition and their continued transparent and efficient communication ensured we were kept up to date at all times. Highly recommend them for your finance needs!
Alex and Jess dealt with our investment loan and provided a top tier service. They kept us up to date and communicated every step of the process making it a seamless and smooth experience! Awesome work team we will definitely be back for future loans!
Jess from Kingfisher was outstanding. I couldn't fault her communication, expertise or dedication to finding the best loan for our situation. The entire process was seamless from start to finish. We'll definitely be using Kingfisher again in the future. A top-tier organisation.
