Your browser version is no longer supported, so you may experience issues while using this site.
Please upgrade to a current browser to enjoy the best experience.

Increasing your Home Loan

Have a home loan, and need some additional funds?

With a Suncorp Bank 'Add' or 'Equity' Loan, you can utilise your existing Suncorp Bank home loan to achieve just that. Whether you're:

  • Planning renovations
  • Consolidating your debt
  • Ready to buy your dream car

Our Add and Equity Loans can help.

What are the 'Add' and 'Equity' Loans?

The 'Add' and 'Equity' loans are both ways to 'top up' or to 'borrow more' using your existing home loan.

  • An Add Loan increases your existing loan sum.
  • An Equity Loan allows you to use the equity in the value of your home to obtain a new loan.

Add Loan

An Add Loan increases your existing loan account and can only be completed on a variable home loan.  If you have a Fixed Rate loan, you would need to break-off the Fixed Rate which could incur Early Payment Interest Adjustment1.

An add loan will increase your current repayment amount, but your remaining loan term, and loan type remains the same.

Example: A customer has a $300,000 home loan, with 20 years remaining. They apply for an Add Loan of $10,000 for a new car. If they are successful, their home loan would increase to $310,000, still with 20 years remaining.

Equity Loan

An Equity Loan allows you to use the equity in the value of your home to obtain a new separate home loan. This is often done instead of an Add loan, if the loan is currently in a Fixed Rate term and it is not beneficial to break the Fixed Rate early. You may also consider an equity loan, if the purpose of the funds has a shorter life cycle than a property (car) so you can match the term of the loan. This allows you to monitor exactly what you've paid and left owing on your additional borrowings.

An equity loan will also allow you to choose a different loan product to your current home loan.

A lending specialist can help you with the decision between these options

Make your next move with confidence

What can I expect?

Whether you want to get pre-approval, a new loan or refinance your existing loan with Suncorp, you can apply quickly online. Your dedicated lender will review your application and reach out to you in the next business day to discuss your options and answer any questions you have.

Save time, get started online

Are you buying a home or looking to refinance?
You can apply online in around 10 minutes.

What can I expect?

100% obligation free advice

Our experienced home lending team are happy to answer all your questions.
They'll call you within 24 hours to discuss your home lending needs.

If you’d like to speak to someone straightaway, please call 13 11 55 Mon-Fri 8am-7pm and Sat-Sun 9am-5pm (AEST)

For Fixed Rate Home Loans, an Early Payment Interest Adjustment (EPIA) applies if more than the prepayment allowance (currently $500.00 per month) is paid in excess of the agreed monthly repayment. The EPIA also applies if the loan is repaid in full or the agreed fixed rate period is broken for any reason. EPIA applies to the whole amount prepaid. Find out more information on EPIA or ask in branch for our EPIA brochure.

Banking products are issued by Suncorp-Metway Ltd ABN 66 010 831 722 AFSL No 229882 Australian Credit Licence 229882 (“Suncorp Bank”) to approved applicants only. Please read the relevant Product Information Document, Lending Fees and Charges and the Home Package Plus Terms and Conditions before making a decision regarding any Suncorp Bank products. Fees, charges, term and conditions apply and are available on request.

Live chat

Chat to us online now