Portable Home Loan: Take Your Mortgage With You
When you move house, your home loan shouldn’t have to start again. A portable home loan lets you take your existing mortgage to your new property—keeping your account, your terms, and your peace of mind.
At Mortgage House, we’ve helped Australians move smarter for almost four decades. Our portable loan options are designed for flexibility, cost-savings, and convenience.
Why Portability Matters
Most home loans last between 20 and 30 years. During that time, it’s common to upgrade, downsize, or relocate. Starting a new mortgage every time you move can be costly and frustrating.
A portable home loan changes that. It lets you transfer your existing loan from one property to another—keeping your loan number, account details, and conditions intact.
You keep your BSB and account number, so all your direct debits and automatic payments continue uninterrupted.
That means no missed bills, no admin stress, and no waiting for new setup approvals.
Key Benefits of a Portable Loan
No discharge fees
Avoid the typical costs charged when closing your old loan.
No need to restart
Retain your existing loan structure, rate, and history.
Your past interest payments aren’t lost
Loan continuity means your repayment progress carries through.
No new credit check
Assuming no material changes, the lender simply transfers your loan.
No need to re-qualify for a new loan
You maintain your current eligibility status.
Lower costs
Skip new establishment fees, stamp duty, and refinancing expenses.
Faster approval
Minimal paperwork, faster turnaround.
Only pay for a new valuation
Usually required to confirm your new property’s value.
Less stress
Your banking arrangements, repayments, and features stay the same.
Security continuity
Your current funds can remain in place while your new property settles.
How a Portable Home Loan Works
This process eliminates refinancing delays and additional fees, saving time and stress during your move.
Sell First
You sell your existing property.
Buy Next
You purchase your new property.
Move the Loan Across
Mortgage House transfers your current loan to the new property—keeping your account, repayments, and rate the same.
Apply for Extra Funds if Needed
If you wish to borrow more, an additional application may be needed, but your base loan remains intact.
Portable Loans vs Refinancing
Portable Loan
Loan Structure
Same loan continues
Fees
No discharge or setup fees
BSB / Account
Unchanged
Credit Check
Usually not required
Time to Settle
Faster
Stress Level
Minimal
Refinancing
Loan Structure
New loan entirely
Fees
Exit and establishment fees apply
BSB / Account
New accounts issued
Credit Check
Full new assessment
Time to Settle
Longer
Stress Level
Moderate–High
A portable loan keeps your existing relationship and loan benefits,
while refinancing resets everything from scratch.
Who Can Benefit from Portability
Homeowners
Homeowners planning to move but happy with their current loan
Borrowers
Borrowers with offset or redraw features they want to keep
Anyone
Anyone looking to save time, fees, and effort during a property change
What is a portable loan and how do they work?
You may be surprised to know that your current loan might be portable. You might also be surprised by how many portable mortgages are available. A portable loan simply means what it sounds like. You can take your loan with you if you buy a new house. Most mortgages are for 30 years, and there aren’t too many of us who stay in one house for 30 years, not today anyway. Mortgage House understands this, and incorporates portability into a lot of its mortgages. The important thing to remember is selling up and buying a new house with a portable loan means you still have the same loan, it is not a new loan. If you need to increase your loan amount, you may be able to, but if you want to borrow more money than your current loan allows, you may have to apply for a new loan.
How can loan portability benefit my mortgage?
Portable mortgages can offer a lot of benefits. The main one is convenience. You won’t have to shop around and negotiate a new loan, and your BSB and bank account details stay the same. This can be handy as you won’t have to re-arrange all your direct debits and automatic payments. This can also be good for your budget planning, as you won’t have any interruptions to your payments.
How does home loan portability work?
The first thing to find out is whether or not your current loan is portable. If so, great. It may not be, however, and there can be some restrictions on your current loan. If you are looking through our mortgages to find a new one, then make sure you ask us whether or not any mortgages you have your eyes on are portable. Wanting to protect yourself before committing to any loan is important, especially if you want to be able to keep fees down in the future. But remember, if you want to increase the amount of your loan outside of the loan agreement, you may need to apply for another loan. This is important when considering the price of any new house you want to buy.
What mortgages can I choose from if I want a portable loan?
As we mentioned before, not all loans can be portable, but there are plenty of options that are. Check out some of the best options below. At Mortgage House we offer portable loans that are both offset and no-offset mortgages, as well as a range of standard variable loans. We can also offer an interest-only option if that’s something that can help you achieve your dream. Because at Mortgage House that is what we are all about. We are focussed on providing you with the best loan product and service for your needs. We do that by listening to what you want and what your needs are, not telling you what we think you want. From there, we use our experience to find products and services that align with your goals. Our specialist technology can then ensure a seamless process and provide you with ongoing support throughout the life of your loan, and beyond if needed.
How are portable loans different from mortgage refinancing?
There are a few big differences between portable mortgages and refinancing your loan. The main difference is that when you choose loan portability, your loan basically doesn’t change. It is the same loan with the same conditions, the same payments and the same interest structure. The only thing that really changes is the address of your house. Refinancing can be a great option if you want to buy a new home, upgrade or even give your current loan a health check. This means you will have a new loan with new repayments, conditions, fees, length etc. There may also be exit and establishment fees when you refinance, and you can refinance with any bank or lender, not just the one you are currently with. If you have a number of other loans, such as a car loan or personal loan, refinancing them all into one loan, even a mortgage, can reduce your repayments and even the amount of interest you pay overall. Speak to us about these options, and whether the new loan could be from the range of our portable mortgages.
Disclaimer: Information on this page is general only and does not constitute financial advice.
Lending criteria, terms and conditions apply.
