Contact An Adviser Today Or Get Started Online

What is a Top Up?

A ‘Top Up’ is a Home Loan that is is redrawn against your property for personal, business, renovation or construction purposes. A Top Up’s loan amount is secured against an existing property the bank has a registered interest over.

Common requests for Top Ups include debt consolidation, emergency funds, holidays, vehicles boats, or for renovating a new kitchen, bathroom or house extension. 

A top Up vs a Personal/vehicle Loan

Top Ups are becoming a popular option for existing home owners that are wanting to take advantage of home lending interest rates vs traditional personal or vehicle finance. Often these loans secured or unsecured can range from 10 – 30% p.a. 

Most personal loans have a maximum term of up to 7 years. Depending on your eligibility, the loan term for a Top Up can range from 1 – 30 years. This allows you have greater control over the cost of your loan repayments.

Top Up Personal
Top Up Owner Occupied

What's the Maximum I can Borrow for an owner occupied property?

For an owner occupied property the maximum you can Top Up on your property is up to 80% of it’s current value. This is also known as an 80% LVR (Loan to Value Ratio) 

For example if you have an existing mortgage of $350,000 and the value of your property today is worth $500,000, your existing LVR before applying for a top up would be 70%.

As this falls below the maximum limit of 80%, you qualify for this scenario and can apply for a maximum top up of up to 80%. Any LVR that exceeds this level does not qualify for a Top Up.

In the above scenario an LVR of 80% would equate to a new total mortgage of $400,000. If the current mortgage is $350,000 the difference being the ‘Top Up’ is $50,000.

This means your maximum available top up is $50,000.

Keep in mind, even you if you have the equity available the Top Up is still subject to the banks servicing and lending criteria. Maximum lending limits for Top Ups varies from bank to bank. Valuations are either obtained via the Bank’s online valuation system or by a Registered Valuation.

Contact us if you would like further clarity for your bank.

What's The Maximum I Can Borrow For An Investment Property?

For an investment property the maximum you can Top Up on your property is up to 70% of it’s current value. This is also known as an 70% LVR (Loan to Value Ratio) 

For example if you have an existing mortgage of $300,000 and the value of your property today is worth $600,000, your existing LVR before applying for a Top Up would be 50%.

As this falls below the maximum limit of 70%, you qualify for this scenario and can apply for a maximum top up of up to 70%. Any LVR that exceeds this level does not qualify for a Top Up.

In the above scenario an LVR of 70% would equate to a new total mortgage of $420,000. If the current mortgage is $300,000 the difference being the ‘Top Up’ is $120,000.

This means your maximum available top up is $120,000.

Keep in mind, even you if you have the equity available the Top Up is still subject to the banks servicing and lending criteria. Maximum lending limits for Top Ups varies from bank to bank. Valuations are either obtained via the Bank’s online valuation system or by a Registered Valuation. 

Contact us if you would like further clarity for your bank.

Top Up Investor

Our Partners

Benefits of Getting a Top Up With Moose

01 Better Rates

Mortgage rates are constantly changing in today’s market. Broker departments in banks are known for providing competitive interest rates upfront for Mortgage Advisers

02 Better Structure

Fixed, Floating or Variable? 5 or 30 year loan term? Understanding your goals and situation can help us to structure your mortgage to allow you to pay it off faster but still have the flexibility and freedom to live

03 quick contact

Don’t find yourself stuck waiting on hold listening to the same 80s song on repeat after calling your bank’s 0800 number. We will answer your call or get back to you in good fashion

04 less hassle

Our online application system allows you to create your own MOOSE account and input your information without the hassle of tiresome paperwork. Once it’s all uploaded, we do all the running around so you don’t have to 

05 No Fees

If you’re applying for a Top Up up with a major bank there’s no fee for our service. The major banks will cover our costs on your behalf as long as your new loan stays in place with them for a minimum of 27 months. This reduces your outgoings during the process

06 Dependability

Re-explaining yourself can be frustrating when the last banker has moved on. We document all our client conversations & advice so we’re always on the ball. You can depend on us to be there for the a small Top up, annual mortgage review, loan refix, refinance or new purchase

Top Up - Is it right for me

Is A 'Top up' Right For Me?

If you are going to apply for a top up, it’s good to understand that you will be taking on more debt which may increase the amount of time it takes you to become mortgage free. 

Working with an adviser at Moose allows us to crunch the numbers and give you solid advice around whether you will be better off or not. This will save you time and money to focus on what truly matters.

Why Should I Use A Mortgage Adviser?

If you’re applying for a top up with a major bank there is generally no fee for service because the banks will pay us as long as your loan in in place with that lender for a minimum of 27 months. This means it is affordable for clients to now get sound advice from Registered Financial Adviser. 

Moose is accredited with a large variety of banks. This enables us to provide our clients with sound advice and options with a non-biased approach. 

  • Better Interest Rates
  • Better Loan Structure Tailored To Your Needs
  • Less Hassle And Less Paperwork
  • Dependability And Transparency
  • Better Advice From A Registered Financial Adviser

You might be looking for a top up for personal reasons or for renovations. If your bank has said theres either no enough equity or your serviceability isn’t strong enough it may not be the end of the line for you

There are several non-bank lenders that can provide options that we are partners with and unlike the traditional stigma of non-bank lending it won’t cost you an arm and a leg. Refinancing often is done because their current bank can no longer meet the needs of the individual 

We do not take a bias approach with our recommendations. Every bank is different to suit the needs of the individual. Once we assess your situation and needs we can advise where you should go next. 

Certain banks are more lenient when it comes to calculating serviceability, some banks are more equity friendly where as some other banks are friendlier with construction and apartment lending. It is important to talk to a mortgage adviser because we can recommend the right options for you

A good loan structure should be prioritised over interest rates. This is because with the right structure in place you could be knocking hundreds of thousands of dollars off the life of your mortgage.

As everyone’s earning capacity may be different via wages, bonuses, commissions, are you able to pay back more than your minimum repayments? If you are how much per year could you knock down above your minimum repayments. Understanding this allows us to create a structure for you that allows you to have the freedom to pay off more than your minimum repayments without paying more interest than you should on your loan

Contact An Adviser Today Or Get Started Online