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Selling before you buy

Selling before you buy means you can avoid having to cover two mortgages at once.

What are my loan options?

It’s easy! If your current loan is with us, you have the option of portability. This means you can ‘take the loan with you’ when you move. This saves you the cost and inconvenience of establishing a new loan, and you’ll retain the existing account number. You can even switch your loan from fixed to variable, or variable to fixed, or top it up when you move the loan on to a new property.

If you'd like to port your loan, talk to your lender or call 132 558.

Alternatively, if you want to apply for a new home loan, talk to your lender.

There are 3 ways to apply for a loan with Westpac:

Review your options

What are the costs involved?

There are a number of costs that you should consider when moving home.  These might include things like:

  • Stamp duty on the new property and mortgage transfer fees
  • Legal costs, inspections, search and registration fees, utility connections
  • Loan portability or new loan establishment fees
  • Agent fees and advertising for the sale of your property
  • Moving costs, removalists, cleaning, furniture.

If you are renting between the time you settle on your property and the time you move into your new home, there will be the additional rental costs and perhaps storage of excess furniture and white goods.

Things you should know

The information contained within this page is general in nature. It serves as a guide only and does not take into account your personal financial needs. Before you act on this information you should seek independent legal and financial advice.
Approval subject to credit criteria. Fees, charges, terms and conditions apply.