Increasing your home loan

If you're planning renovations, want to consolidate your debts or you just need extra cash, borrowing additional Home Loan funds could be the perfect solution.

 

You can borrow additional funds on your existing Home Loan without taking out a separate loan, making it easier to use the equity you’ve built up and saving you time and paperwork. Plus you'll be paying a Home Loan interest rate so it's very cost effective compared to other lending options. The amount you can borrow depends on your income and the amount of equity you have in your property.

 

You'll only pay one monthly loan service fee and we'll take care of most of the paperwork for you. You can also renegotiate the loan over a longer term, subject to normal lending criteria. Plus, the establishment fee for a Loan Increase is only $300.

 

Please note, minimum increase of $10,000.00. If the existing loan is at a fixed or guaranteed rate, you cannot increase your loan. If you still require additional funds, you may break your fixed rate contract. However, fees may apply and the new maximum loan amount must be renegotiated at current interest rates. The new interest rate cannot be an introductory rate (including 3 Year Special Economiser) unless the increase represents more than 50% of the total new loan. You may be better off taking out a separate loan.

Easy online application

You can apply to increase your loan via NetBank. The application only takes 15 minutes. To make things easier, most of your details will automatically appear on your application. You can save your progress at any point and come back to it later.

 

 

If you’re not already registered for NetBank, you can register online.

Alternatively, contact us or visit your local branch.

 

 

 

• Important Information
  Applications are subject to the Bank's normal credit approval. Full terms and conditions will be included in our loan offer. Other fees apply.