Portability, also known as a substitution of security, gives you the power of choice to keep your home loan.
When selling, instead of discharging your mortgage, you keep it. You then request a security swap, changing the property held as security against the loan from your old property to your new one.
NB: Speak to home lending expert to see if portability is right for you.
Using your equity, you can apply to increase your home loan to renovate to sell, upgrade to a new property or have a deposit ready to make a purchase.
Found a new property but haven’t sold your old one? A standalone relocation loan or one combined with a new home loan could bridge the gap for up to 12 months.
If you’re selling to relocate, use equity or a loan increase (top-up) for renovations, while if extending to stay, a building or construction loan could fit the bill.