Top Up Loans

Top-up loans are a type of additional loan that borrowers can avail on top of their existing home loan or mortgage. These loans are provided by lenders to borrowers who have already repaid a certain portion of their original loan and have built equity in their property.Home loans typically have a fixed or variable interest rate, and borrowers are required to make regular payments (usually monthly) towards the loan, including both principal and interest, until the loan is fully paid off.

The purpose of a top-up loan is to allow borrowers to access additional funds without the need for a separate loan application process or documentation. The loan amount is typically based on the difference between the current market value of the property and the outstanding balance of the existing loan.Home loans are a long-term commitment and can last for many years, depending on the length of the loan term. They are a popular way for people to purchase a property that they may not be able to afford outright.