In particular we focus on getting the loan structure right the first time, choosing which lenders to use in the right order (yes this is important) and finally getting our clients the best deal possible.
Top Up
A home loan top up or loan increase lets you borrow against the equity you may have built in your current property. You can then use the borrowed money to fund another goal like a pool, nonstructural renovations, debt consolidation, investing or other financial needs. A home loan top-up often works out cheaper than taking out a personal loan or a car loan as your interest rate and repayments will be lower.
It’s a similar process to your original application, to qualify you will need to have an existing home loan and a good repayment history. Your lender will do all the usual checks to make sure you can afford the additional funds, check your income, your property has enough value and your credit score.
The amount to be granted as top-up home loan differs from bank to bank. Moreover, the actual home loan amount and the new top-up loan amount should not be more than 70% - 80% of the value of the property.
Learn More
