Equity Release & Home Equity Loans for Nurses

Common uses include renovations, investing, consolidating high-rate debt, buying another property, or large expenses. Lenders must accept the purpose and your loan must meet serviceability and LVR rules.

It depends on rate and term. Examples (principal & interest): 5 years at 6% ≈ A$967/month; at 8% ≈ A$1,014; at 10% ≈ A$1,062. Over 10 years: 6% ≈ A$555; 8% ≈ A$607; 10% ≈ A$661.

Apply for a loan increase/top-up, a new split, or a refinance to another lender. The lender will order a valuation, then approve up to their maximum LVR if you meet credit and servicing criteria.

No—uses must be acceptable to the lender (e.g., renovations, investments, consolidating debt). Some purposes (speculative or business) may be limited or require extra documentation.

Higher total interest if you borrow more or extend the term, potential fees, and the risk of securing short-term spending against your home. Keep buffers and a clear repayment plan.

It can be—when funds serve productive goals (e.g., value-adding renovations) and cash flow remains comfortable after rate buffers. Avoid using equity for consumables if it strains your budget.

Example (3-year term, P&I): at 6% ≈ A$304/month; 8% ≈ A$313; 10% ≈ A$323. Actual pricing and terms vary by lender and profile.

With sufficient equity, stable income, and clean credit, a 50k top-up is often straightforward. Lenders still assess serviceability, purpose of funds, and LVR caps.

Request a limit increase or create a new split with your current lender. If their policy or pricing isn’t suitable, compare a full refinance.

Usually a top-up/split with your existing lender (low fees) or a refinance with sharper pricing. Compare the net outcome after any fees and cashback/rebates.

It’s an outdated rule of thumb that says refinance only if you save 2% on rate. Do a break-even analysis instead: total costs vs. monthly savings over the period you’ll keep the loan.

Yes—subject to policy. Rolling high-rate debts into your mortgage can cut monthly outgoings, but discipline is vital so balances don’t creep back up.

Yes—if you have usable equity and meet credit and servicing tests. The property acts as security for the increased loan.

Often yes. Provide statements and purposes. Ensure the new repayments and total interest align with your goals, and consider closing paid-out credit accounts.

Usually—because your balance rises. We can structure splits, terms, and offsets/redraw to keep cash flow manageable.

If cash flow is tight, your job is unstable, you plan to sell soon, you have high fixed-rate break costs, or the purpose doesn’t create lasting value.

High-cost short-term credit (e.g., payday), and unsecured debt used for ongoing expenses. Even low-rate loans are risky if repayments stretch your budget without buffers.

Late payments and high credit-limit utilisation. Pay on time, keep limits conservative, and avoid frequent hard enquiries.

It’s not a standard lending rule. Some use it as a budgeting heuristic, but lenders focus on serviceability, LVR, and credit history. Common yardsticks include 28/36 DTI or 50/30/20 budgeting.

You’re securing extra debt against your home. If repayments falter, you risk the property. Compare total cost, term, and features—not just the headline rate.

There’s no loophole—just good habits: extra repayments, offsets, fortnightly schedules, windfalls to principal, and avoiding redraw for consumption.

It can be. In Australia it’s commonly a new split on the same mortgage, or a separate facility secured by the same property. Priority and fees depend on structure.

No single “best.” The right lender depends on your LVR, credit profile, purpose of funds, pricing, features, and turnaround at the time you apply.

Yes—subject to valuation, LVR caps, and serviceability. Funds must be for acceptable purposes with evidence where required.

Your loan balance and repayments increase. Keep buffers and a plan to manage the larger debt; consider interest-only vs P&I trade-offs carefully.

Order a valuation via your lender/broker, apply for a top-up or new split (or refinance), document the purpose, and settle once approved.

Compare total cost and flexibility. A new split with your existing lender can be simpler; a refinance may offer sharper pricing or features. Choose the option with the best net outcome.

Usable equity (within LVR caps), stable income, acceptable credit conduct, and an acceptable purpose. Property type and location must meet policy.

It is when the purpose adds value and your cash flow remains strong after interest-rate buffers. Stress-test repayments before proceeding.

Many lenders cap total lending to ~80% of the property value (higher with LMI or guarantor in some cases). Actual limits depend on policy and your profile.

Through scheduled repayments (P&I or interest-only for a period). Extra repayments and offsets reduce interest and speed payoff.

It depends on your property value, current balance, and lender LVR caps. We’ll estimate usable equity after valuation and prudent buffers.

Possibly, depending on the amount released and structure. We’ll model repayments and use offsets/redraw to keep cash flow comfortable.

Yes—rolling high-interest debts into your home loan can lower monthly outgoings. We’ll confirm it aligns with your goals and prevents balances from rebuilding.

Many borrowers choose a split to balance certainty and flexibility. We’ll tailor the mix to your cash-flow, rate view, and use of an offset account.

Usually, yes. Lenders rely on a current valuation (desktop, kerbside, or full) to confirm LVR and pricing tier. We’ll coordinate it.

ID, payslips/NOA, current home-loan statements, liability summaries, savings history, and the purpose of funds. We’ll provide a checklist.