Accessing Equity

When you refinance your home loan you have the opportunity to use your equity (the difference between your home’s current value and what you owe) to grow your wealth or make your personal dreams a reality.

How can I use my equity?

Lenders see home equity as a secure alternative to cash. So you can use it to buy and pay for many different things. A Smartline broker offer loan advice and help you decide if refinancing makes sense for your needs, situation and long term goals.


Secure an investment property loan

Rather than put yourself under the added financial burden of saving for another deposit, you can put the money that’s ‘sitting in your home’ towards buying another one. If it covers at least 20% of the new property value, you’ll also save on Lenders Mortgage Insurance.


Do home renovations

Instead of buying a new property, you could use your equity to upsize or renovate your current home or an investment property.


Take a holiday or buy a car

If you want a loan to pay for a holiday, a new car or some other major purchase, one option is to refinance, but you need proper planning so you don’t get into heavy debt. A Smartline mortgage broker can help you here.


Get access to extra cash

When you refinance using equity in your assets, you can free up money to invest in other areas or spend as you choose. Of course, it’s very important to clearly understand how every dollar spent affects your debt and repayments.

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