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How do I release equity from my current home to buy property?

There are a few ways to access the equity in your home. One way is to do what’s known as a ‘cash-out’ refinance, and with this you’ll need to increase your loan amount to account for the equity you want to use or ‘liquidate’. Typically, your lender will want to make sure you are only borrowing 80% of your property’s value (some lenders allow up to 90% with LMI) so you’ll need to account for this when deciding how much equity you want to use.
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Our home loans are subject to credit criteria and eligibility requirements. Home loan interest rates are for new customers only and can change. Our comparison rates are based on a $150,000 loan amount over a 25 year term. They factor in fees associated with applying for the loan; ongoing fees and fees associated with leaving the loan. Our fixed loans roll to a variable principal and interest rate at the end of the fixed term. If the interest only period is not specified, the comparison rate is calculated on a one year period.

WARNING: The comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

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