I figure this is as good a place as any to ask this question. Hopefully someone has the answer!
DH and I are selling our current property and planning to buy a new one. Doing this will reduce our home loan (ie: we are selling for more than we are buying) and we are wondering if we will need to go through the whole home loan application process again or whether it's just a case of the bank agreeing to a change of security?
Does anyone know what paperwork is involved? We want to stay with our current bank and home loan set up. I've been trying to get a time to meet with them but they are taking their time returning my calls and we want to know the details before we put an offer on a place (and time is running out!).