If you're selling one home and buying another, you might not need a new loan at all. Many lenders offer portability, which lets you move your existing loan from one property to another.
How portability works
Your loan stays the same, but the security changes from your old property to the new one. If the new home costs more, you can usually increase the loan (subject to approval). If it costs less, you can reduce it.
Settlement on the sale and purchase usually needs to happen on the same day, or within a short window set by the lender.
When portability helps
You're on a fixed rate
This is the biggest benefit. If you fixed at a lower rate than what's available now, porting lets you keep that rate and avoid break costs.
You want to avoid exit and set-up fees
Porting can avoid discharge fees, new application fees and some government fees.
Your loan has features you like
If your loan has a great package, offset or rate, porting keeps it.
When portability doesn't help
Your rate isn't competitive
If you're on an uncompetitive variable rate, moving house is a natural time to refinance to a better lender.
You need a much larger loan
The increase will be assessed as new borrowing, often at current rates. The combined structure might be messy. A fresh loan may be simpler.
Settlement timing doesn't line up
If your sale and purchase can't settle together, porting may not be possible. Bridging finance may be needed instead.
What lenders check
Even though the loan isn't new, lenders will still:
- Value the new property
- Assess any increase in borrowing
- Check the new property meets their policy
Portability vs substitution of security
Some lenders call it "substitution of security". The idea is the same, though processes and fees vary.
Frequently asked questions
Do all lenders offer portability?
Many do, but not all. Check your loan contract or ask your lender.
Is there a fee?
Some lenders charge a fee for portability. It's often less than refinancing costs.
Can I port a loan to an investment property?
Usually, but the loan purpose and rate may change.
Moving house and wondering whether to port or refinance? Call Finfident on 0424 545 654.
This article is general information only and doesn't take into account your objectives, financial situation or needs. Figures, rates and scheme rules are current as at October 2026 and can change. Finfident Finance Brokers (ABN 94 679 280 801) is Credit Representative 569374 of Outsource Financial Pty Ltd (ACN 131 090 705), Australian Credit Licence 384324.