Your options.

1. Sell before you buy

Selling your existing home before buying a new one means you'll avoid covering two home loans at once.

If your current home loan is with us, you can take the loan with you. This means you transfer your loan to your new property, saving you the cost and inconvenience of establishing a new loan.

2. Buy before you sell

If you buy a new home and it will be some time before you get the money from selling your current home, we may be able to help keep your costs down in the meantime. We can either increase your Choices home loan for a short time or help with bridging finance, which is a short term interest-only loan to bridge the gap when you have mortgages over two homes.

3. Keep your current home as an investment

Keeping your current home as a rental property may be possible if you use the equity in it as the deposit for the home loan for your new one. Learn more about your options for keeping your existing home below.

Keeping your current home.

1. Keep it as a rental property

Keeping your current home as an investment property might be more affordable than you think. Consider how much equity you have in your home, and whether your rent could cover your costs. Find out what the weekly rent is for properties in your area here.

2. Renovate your current home

Renovating to build an extension or other simple changes can give you the home you want without the time, effort and costs associated with moving. However you could risk over-capitalising and may need to move out during renovations which could add a considerable cost to your budget.

3. Subdivide your current section

If your section can be subdivided, the value of your property is likely to increase. Subdividing your section could create a number options for you, including selling the land or building a property to rent or sell. Subdividing is likely to attract consent fees, so consult your local authority first.

Featured rates.

* Min 20% equity, plus salary credit to a Westpac transaction account. Not available with any other Westpac home loan offers, promotions or package discounts, or the Westpac Choices Home Loan with Airpoints. Loans for business or investment purposes excluded.

Get in touch.

Meet with an expert

Our Mobile Mortgage Managers can come to you, when it suits you best.

Find a Mobile Mortgage Manager

Talk to us

Call us any time from 8am - 6pm weekdays, 9am - 3pm Saturday.

Call 0800 177 277

Visit us

Make an appointment to talk to a home loan expert in branch.

Find your nearest branch

Things you should know.

1 Conditional approval requires a credit check and confirmation of the details provided in your application. Other conditions may also apply depending on the nature of your application.

Interest rates are subject to change without notice. Westpac's home loan lending criteria and terms and conditions apply. An establishment charge may apply. A low equity margin may apply. An additional fee or higher interest rate may apply to home loans if the application is accepted but does not meet the standard lending criteria.