Is it easier to get a top up from my current bank?

Sometimes. It can be quicker if they say yes, but it's still a full assessment of your income, expenses and the property's value. If they say no after weeks, you've lost time a refinance could have used.

Will my bank approve an increase because I've always paid on time?

Not on that alone. An increase is a new lending decision, so the bank checks you can afford the bigger loan today, not just your repayment history.

Can I refinance and borrow more at the same time?

Yes. The increase can be built into the refinance application, so you get the extra money and a review of the whole loan in one go.

Do I need to say what the extra money is for?

Often, yes. Some lenders let you borrow a certain amount without evidence, while others want quotes or a contract past a dollar threshold. It varies by lender and by how much you're borrowing.

What happens if borrowing more takes me over 80% LVR?

Lenders mortgage insurance may apply, caps on how much you can take out get tighter, and some lenders won't do it at all. It narrows the options, so it's worth checking first.

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Straight Answers · Refinancing

Is it easier to borrow more from my current bank than it is to switch?

Bayley Clarke · Mortgage broker on the road · Last checked 1 November 2026 · 3 min read

The short answer

No. However, sometimes yes. Going back to your own bank for a top up can be the quicker path, but only if they actually give you the money, and you often don't find that out until weeks of back and forth later.

In that same time, you could have had your loan reviewed, found a more suitable option, had the increase built into a refinance application and had it all done and dusted. Either way, it all hinges on you being able to afford the bigger loan ongoing.

The 60 second version, filmed from the driver's seat. The rest of this page is the detail underneath it.

Your own bank isn't a shortcut on the assessment

A lot of people assume their own bank will just say yes because they've been a good customer. That's not how it works. An increase is a new lending decision, so the bank will want your current income, your expenses and your debts, and it will check you can afford the bigger loan at today's assessment rates, not the ones from when you first borrowed.

It will usually want to value the property again too, and it may ask what the money is for. So the paperwork isn't that different to a refinance. The only real difference is that you're dealing with the bank you already have, and you're only seeing one bank's answer.

The cost of waiting on a no

Where it goes wrong is the time. Sometimes it's weeks and weeks of going back and forth with the bank because they drop the ball, and then at the end of it they just tell you no anyway. You've had your request in their hands for a month or more, and you're back to square one.

If you'd gone the refinance route from the start, that same month could have covered the review of your loan, finding a lender that suits you better and having the increase factored in. You'd have the extra money and possibly a sharper deal on the whole loan, in about the time it took your bank to say no.

How lenders differ on borrowing more

Not every lender treats extra borrowing the same. Some will let you take out a fair amount without proving what it's for, as long as you can afford it. Others want evidence of the purpose past a certain dollar amount, like quotes for a renovation or a contract for a purchase. Some won't release equity at all above certain loan to value levels.

Going over 80% of the property's value changes things again. Lenders mortgage insurance can come into it, the caps on how much you can take out get tighter, and a few lenders stop altogether. That's why the right answer depends on how much you need, what it's for and how much equity you've got.

The honest bit: it all comes back to affordability

Whether it's your own bank or a new one, nobody is lending you more money unless the numbers show you can afford the repayments on the bigger loan. If your income has dropped or your expenses have gone up since you first borrowed, that's the wall, not which bank you ask.

That's the bit I can run for you up front, before you spend weeks waiting on anyone, so you know whether to go to your bank, refinance or hold off.

Want to know if a top up or a refinance gets you there faster?

A 30 minute call. We run the numbers on the bigger loan, check your equity and work out whether your own bank or a refinance is the better path.

Book a 30 minute call Call 0437 189 939

No cost to you. The bank pays me when a loan settles. · How I get paid

Next question

What does cash out mean, and what will the banks accept as a reason for my cash out?

Cash out means borrowing against your home's equity. Keep the loan at or under 80% of the value, show you can afford it.