Home Loan Top Up Services in Southland, New Zealand.

Need Extra Funds? Top Up Your Home Loan with Mortgage Field

There are many reasons why you might want to top up your home loan. Whether you're planning to renovate your home, upgrade your car, buy a caravan, or consolidate personal debt into your mortgage, Mortgage Field is here to help.

No matter the amount you wish to borrow, our experienced mortgage brokers in Southland and beyond can assist. Get in touch today for personalised advice and solutions tailored to your needs.

How Do Home Loan Top Ups Work?

A home loan top up allows you to borrow additional funds using your home's existing equity. The process may vary depending on your bank or chosen mortgage broker in Southland or other regions of New Zealand.

Key Factors That Affect Your Home Loan Top Up:

• Purpose of the Top Up: Renovations, car purchase, debt consolidation, etc.

• Equity in Your Home: How much of your mortgage you've already paid off.

• Affordability: Can you manage repayments with the top up?

• Property Value: Current market valuation of your home.

• Loan-to-Value Ratio (LVR): The ratio of your loan amount to your property’s value.

Some lenders may require you to consolidate your existing home loan, while others allow you to take out an additional loan.

Not Sure Where to Start?

Contact Mortgage Field for expert guidance on how to increase your home loan smoothly and efficiently.

Has Your Bank Said No or "Not Yet"?

If your bank has declined your home loan top up or asked you to wait, don't worry. A "no" from one lender doesn't mean the end of your financial plans.

At Mortgage Field, we work with a wide network of lenders across New Zealand to find the right solution for your situation. We specialise in helping clients who have been turned down by traditional banks. Let's have a friendly chat about alternative options tailored to your needs.

Do We Charge for a Home Loan Top Up?

In some cases, we may charge a fee for processing your home loan top up. This is because applying for a top up requires just as much work as a full mortgage application.

Why Is There a Fee?

Banks and lenders pay us a commission based on the value of your top up. For example, if you have an existing $500,000 home loan and you want to borrow $20,000 for a new car, we would only receive a commission on the $20,000—not the full loan amount.

Additionally, your bank now requires a comprehensive application process, including:

• A full application update

• Income verification

• Account conduct checks

• Property valuation updates

• Affordability calculations

For more details, please review our Important Information.

Why Choose Mortgage Field?

• Local Expertise: We're based in Southland, New Zealand, and understand the unique needs of local homeowners.

• Wide Network of Lenders: Access to banks and lenders across New Zealand.

• Personalised Service: Tailored advice to help you achieve your financial goals.

Ready to top up your home loan? Contact Mortgage Field today for a free consultation!