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Unlock Extra Financial Flexiblity with a Top Up.

Discover how a mortgage top-up can provide the financial flexibility you need. Whether you’re planning to renovate, consolidate debts, or achieve other financial goals, Twine’s experts can help you access additional funds.

Get a mortgage top up

How do mortgage top-ups work?

A mortgage top-up allows you to borrow additional funds on top of your current home loan, utilizing the available equity in your home.

The amount you can borrow depends on various factors:

  • The purpose of the top-up
  • The amount of existing mortgage that has been repaid
  • The current value of your home and your Loan-to-Value Ratio (LVR)
  • Your ability to meet repayments after topping up

It’s important to note that a top-up increases your total mortgage balance, potentially extending the repayment period and interest payable. Therefore, you need to carefully consider the terms and conditions of the top-up loan before proceeding, and we can help you with that.

mortgage top up

Why Consider a Mortgage Top-Up?

Debt consolidation

If you’re juggling multiple debts with high-interest rates (e.g. credit cards, personal loans, or car finance), you may want to consider topping up on your home loan to pay them off. Take advantage of home loan interest rates, which are lower than a personal loan or credit card. 

You can reduce your monthly repayments by consolidating your debts into one loan. With only one loan to manage, you can reduce your monthly repayments, make it easier to stay on top of your repayments and make progress toward paying off your debt.

Renovation top-up

Renovation costs can vary widely, depending on the scope of the project. For major renovations that require building consent, we’ll guide you through the necessary steps. However, if your project is substantial, you may require separate financing option like a construction loan. Discuss your renovation plans with us, and we’ll help you find the ideal funding solution.

Structuring your top-up

You have two options for structuring your home loan:

  • Add it to your existing loan, increasing repayments and extending the loan duration.
  • Treat it as a separate loan with its own terms, allowing for faster repayment.

Ready to explore a mortgage top-up? The process is similar to securing a new loan.

Chat with a Twine adviser today, share your plans, and we can help you find the best solution for your needs.