Step-by-step: determine renovation budget → calculate available equity → check redraw balance → choose finance type (redraw, equity top-up, construction loan, or personal loan) → apply → manage drawdowns → update property records post-completion.
For a mortgage top-up with an existing lender: typically 1–3 weeks. For a construction loan: 3–6 weeks. For a personal loan: often 1–5 business days. The main delay is usually the property valuation.
Equity available = (Property value × 0.80) − Current loan balance. On an $850,000 home with $440,000 owing: $680,000 − $440,000 = $240,000 available.