If you have multiple mortgages with one bank, or if you buy and sell a property within a very short period of time and the current mortgage terms are good, it may be possible to switch the mortgage to a new property. In almost all cases, the bank will review and reassess your financial situation by requesting new documents.

When switching banks, there may be penalties or additional costs that can be reduced.

In cases where you suddenly need a large sum of money, refinancing to increase the mortgage amount while reorganizing your finances may be advantageous instead of getting a second mortgage. This is especially true if the interest rate is lower than when you originally received the mortgage.