A home equity loan allows you to borrow against the equity you have in your home to either invest in shares, repay your debts, renovate, pay for lifestyle expenses or buy another property.

The loan is secured by a mortgage over your home and in most cases you can use as little or as much of the loan, if and when you need it. Equity loans have been very popular in recent years, due to their flexibility.

House prices have risen rapidly across most of Australia, giving home owners a readily available and inexpensive source of credit.