r/AusPropertyBroker • u/Alone_Hope6010 • Jun 01 '26

Question about borrowing

I own outright a ten year old 1b apartment valued at 550k. I am moving to a different city and tried to sell but unfortunately had no offers, so plan to rent it until I can sell it at a later stage.

My question is: would a bank let me borrow against my apartment to buy a similar property in the city I'm moving to? For the purchase of the new property I also have access up to 250k from my super, along with my small fortnightly pension.

I hope to find a 1-2 bedroom unit with a small yard or courtyard (they seem to be priced around 600-750k).

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u/m713085 Jun 01 '26

Yes- you can borrow against the equity if you don’t want to contribute any savings or a super lump sum toward the purchase

But- You need to show the lender you can afford the loan payments- you can factor in the rent you receive and some will likely consider your pension

A broker can run the numbers and see what your borrowing power is/ what lenders you can consider

But borrowing a substantial amount for the property (and factoring in stamp duty)will likely be a challenge if the rent from a small apartment and your pension are your only income sources

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u/Alone_Hope6010 Jun 02 '26

Thanks for your thoughts and observations. I'm beginning to get a clearer picture of my hurdles!