What is loan portability?

It's when a bank lets you swap the property your loan is secured against, so you keep the same loan when you move house. It's also called substitution of security.

Do I need to sell and buy on the same day to port my loan?

Generally, yes. The old property is released and the new one taken as security at the same time, so the sale and purchase need to settle on the same day.

Can porting my loan avoid fixed rate break costs?

It can, because the loan doesn't close. Check with your lender first, as conditions and fees vary.

What if I can't settle on the same day?

Then it's usually a bridging loan, so you can buy before you've sold, or selling first before you buy.

Can I borrow more when I port my loan?

Often, yes, but the extra amount is assessed like any other loan increase, and the bank will generally value the new property.

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Straight Answers · Next home

Can I take my current loan with me to the next house?

Bayley Clarke · Mortgage broker on the road · Last checked 11 November 2026 · 2 min read

The short answer

If you've been very lucky and you can line up the sale of your place and the purchase of the new one on the very same day, then yes. Some banks offer what's called portability, or a substitution of security.

That's bank-speak for swapping the house your loan is secured against. If things line up well, you keep the exact same loan going and just change the property it's attached to. It doesn't happen often, but it is an option.

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

How portability works

Your loan is secured against your current home. With portability, the bank releases the old house and takes the new one as security in its place, on the same day, so the loan itself never closes. Same account, same loan, new house.

The bank will generally still want to value the new property, and if you're borrowing more to buy it, the extra amount is assessed like any other increase. Not every bank offers it, and those that do usually charge a fee for the switch.

Why people want it

The main reason is a fixed rate. If you're partway through a fixed term, paying the loan out to move banks or start fresh can mean break costs. Porting the loan to the new property can sidestep that, because the loan never actually ends.

It can also save the cost and paperwork of discharging one loan and setting up another. If your current loan is still a good deal, keeping it can be the simplest path.

When it doesn't line up

However, it doesn't always work like that. Getting a sale and a purchase to settle on the same day takes luck as much as planning, and if the dates don't match, portability is off the table.

Then it's one of the other paths. Sometimes you'll need a bridging loan to buy before you've sold. Other times you'll need to sell first before you can buy. Which one fits depends on your equity, your timing and what you can afford to carry.

The honest bit: don't plan around it

Portability is technically something you can do, but it doesn't often happen. Treat it as a bonus if the dates line up, not the plan the whole move relies on.

And before you assume keeping your current loan is best, check it's still competitive. Moving house is a natural point to see whether another lender would do better for you, break costs included.

Moving and want to know your options?

A 30 minute call. We go through your current loan, your timing for selling and buying, and whether porting, bridging or selling first fits.

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

Do we need a bridging loan if buying and selling on the same day?

No. If both settlements land on the same day, the banks and conveyancers line it up in the background and no bridging loan is needed.