How can I access additional funds on my home loan?

Customer doing computations

 Estimated read time: 2 Minutes

A redraw facility allows you to access extra repayments that you have made into your home loan. This is beneficial especially when you need additional funds to cover those unexpected costs or contingencies.


How much redraw do I have?

To find out whether you have redraw funds available and to access online redraw facilities, simply log onto Loan Service Net or call our friendly Customer Service team on 137 377 Monday to Friday from 8:00am to 6:00pm (AEST/AEDT).

Once you have logged in to LSN as shown below > Go to the 'Transact' tab > Select 'Redraw'

Redraw facility screenshot

Select the loan account you wish to withdraw a redraw from. Then, select the linked account to transfer these funds to. You can also use Pay Anyone to transfer your available funds to a different account.

Request a redraw screenshot

You can also request a manual redraw by completing this form and email it to (Note that a minimum redraw amount of $1,000 applies to manual redraw application).


What are the pros and cons of accessing funds through a redraw?


  • There is no change to the credit limit on your loan
  • Your repayment amount is not affected or changed
  • You're using your own money
  • No impact to credit history



  • Any financial buffer you had built up will decrease
  • Your loan balance will increase by the amounts you redraw
  • There will be less money available should you require access to these funds in the future


In addition to the redraw facility, you can also access your equity by applying for an Additional Advance.


How do I apply for an Additional Advance?

If you need additional funds, you may be able to borrow more from your existing lender in the form of an Additional Advance. Typically, it will be at a different rate from your existing mortgage.

However, before you consider applying for a further advance, you should make sure that:

  • the value of your home has increased significantly beyond the mortgage amount you originally borrowed – this is known as having equity in your property
  • you’ve got a good credit record, and you feel comfortable with the additional monthly payments and confident you can afford them

If you’d like to apply for an Additional Advance, call our friendly Customer Service team on 137 377 Monday to Friday 8:00am to 6:00pm (AEST/AEDT) or email for further assistance.


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