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Can I refinance just one of my properties and leave the rest with my current bank?
Bayley Clarke · Mortgage broker on the road · Last checked 11 November 2026 · 3 min read
The short answer
Yes, but it depends on how your current loans and properties are set up at your bank. If they're all tied together, which is what cross-collateralisation means, moving one can change how the loans you leave behind sit, and that's where it becomes a real problem.
So we work through the structure first, to see whether it's actually worth switching just one loan to a new bank. When it's set up cleanly, it's straightforward. When it isn't, it can get messy, and you want to know that before you start.
The 90 second version, filmed from the driver's seat. The rest of this page is the detail underneath it.
When moving one loan is simple
If each property secures its own loan, and nothing is tied to anything else, refinancing one is just a normal refinance. The new lender values that property, lends against it, and pays out that one loan. Your current bank releases that title and the rest of your loans carry on exactly as they were.
This comes up a lot when one loan is sitting on a horrible rate and the others are fine, at or below what the market's doing. In that situation it often makes sense to move the one that's costing you and leave the rest alone.
When cross-collateralisation gets in the way
If your bank has your properties commingled, each property is security for more than one loan, or for all of them. To let one property go, your current bank has to be happy with what's left. It'll usually revalue the remaining properties and recalculate the loan to value ratio on the loans staying behind.
If those remaining loans end up over 80% of the value of what's left, that changes how they're set up. The bank might want some debt paid down, might ask for lenders mortgage insurance, or might want the structure reworked before it releases the title. That's a real headache if nobody saw it coming, and it can wipe out whatever you were going to save on the one loan.
Working out whether it's worth it
So before anything gets lodged, I want to see how your loans are secured, what each property is likely to value at, and what the leftover position at your current bank looks like after the move. Then we compare the saving on the loan you want to move against any cost or hassle of untangling the rest.
Sometimes it's a clear yes. Sometimes it's better to move everything at once and separate the securities properly at the new lender. Sometimes it's not worth touching. That's part of the work I do working out whether I can help, because I know which questions to ask.
The honest bit: the structure decides, not the rate
A better rate on one loan is easy to find. Whether you can move that one loan cleanly depends on paperwork you may never have looked at: which titles secure which loans. Most people don't know until someone checks.
If you're not sure whether your properties are crossed, your loan documents or your current bank can tell you, or send them to me and I'll work it out.
Want to know if you can move just one loan?
A 30 minute call. We look at how your loans are secured, what the leftover position would be, and whether moving one is worth it.
No cost to you. The bank pays me when a loan settles. · How I get paid
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Related answers
The full guide: Refinancing with a broker The full guide: Why can't I refinance? The full guide: Cross-collateralisation, explained I have two properties cross-collateralised at the bank and I want to sell one. How does it work? All my properties are in my name. Does cross-collateralising really make it riskier for me and my home? Can I refinance if my value dropped or my LVR is over 80%? What does refinancing actually cost?Not your question? Book a call and ask it, or call 0437 189 939.