Top Ups involve increasing an existing facility with the same Lender. The assumption is that the Lender already holds a mortgage over the property. It is not a new purchase.

To make the process easy, follow these 3 steps to ensure your Loanapp application is entered correctly:

1. Under the Current Situation tab, enter the customer's Existing Property and ensure that 'To Be Used as Security' = Yes

2. Enter the customer's existing mortgage in the Mortgage Liabilities tab.
Add the Security property using the dropdown to select the Existing Property (details will automatically be visible).
Ensure that 'Clearing From This Loan' = No

NOTE - Do not enter anything in the New Purchase section. This section should be left blank since the customer will be using their existing property as security.

 4. Now you just need to enter the New Loan details (ie how much is required for the Top Up). Under the New Requirements tab, enter the New Loan details.
Ensure that you select an ABS Lending Purpose that is appropriate for the Top Up loan (eg ABS-249 - Other Purposes).
Add the Security property using the dropdown to select the Existing Property (details will automatically be visible).

Note - some Lenders do not include a Security section on the Loan Details section. Do not worry - you have already indicated which property will be used as Security on the Existing Properties screen. 

Continue with your application, completing all mandatory fields.
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