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How to reduce your home loan limit.

Read time 1 min
To reduce your limit, send a request in Bankmail via online banking or chat to your lender or broker. You can reduce your loan limit up to the available surplus amount in your home loan account.

Reducing your home loan limit

How to reduce your home loan limit

In online banking:

  1. Go to ‘Message centre’
  2. Choose ‘Bankmail’
  3. Select ‘Reduce home loan limit’
  4. Fill out the template and click ‘Send’.

The process usually takes a minimum of 5 business days from when we receive your request.

Alternatively, you can also fill out a Home Loan Limit Reduction Request (PDF). The process usually takes a minimum of 5 business days from when we receive your request.

How much you can reduce your limit by

If you have an available surplus on your home loan, you can use it to reduce your home loan limit. To work out this surplus, get your available balance and take away your next repayment amount.

You won't be able to reduce your home loan limit by more than you have in surplus.

Things to keep in mind

  • Once your limit is reduced you won’t be able to access any surplus funds anymore. If you need to access them again, we’ll need to do a new lending assessment​.
  • If you reduce the limit on a fixed rate loan, fees might apply. We’ll get in touch with you to discuss this after you make the request.
  • If the loan needs two or more people to sign, all borrowers need to complete a request with the same details.