Home loan portability is a feature that allows you to keep the same home loan product, but change the supporting security (property). It can save you the time and costs of refinancing. Keep in mind though, that there are generally fees to make use of this feature.
What is loan portability?
A portable loan could save you the time, cost and hassle of refinancing or getting a new home loan, but it's not without caveats.
Who might want a portable loan?
If you're selling your property and buying a new one at the same time, you may find it more convenient to make use of the loan portability feature (if available). This means you can keep your existing facilities such as ATM card, online banking account and cheque book, and avoid paying any new loan establishment or application fees.
While it may sound like a handy feature, the stars need to be aligned for you to be able to use a portable loan, as well as for it to be worth your while.
Upgraders guide
This guide covers all the important aspects of deciding the next move. It's essential to evaluate all the financial options and costs involved in selling a current home and buying a new one.
Top 3 tips about portable loans
Potential to save big with portable loans
If you have a fixed rate home loan, then the loan portability feature could save you the hefty break costs if you're looking to buy and sell your property before the loan term has been reached. In this case refinancing would mean paying all the applicable fees to break out of the fixed term.
Overall, loan portability can offer convenience and sometimes cost savings, so it is worthwhile investigating the viability of this option for you. An experienced mortgage broker will be able to compare thousands of home loans.
Smoother experience as they have all your information.
Better understanding of your financials to provide tailored advice. 
Faster response compared to being matched with a new broker.