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:D :p - your version looks a lot better. Very (!) glad to hear the desktop will be enough!

Doh! Of course -thanks Jess. I was trying to see how I could make it 100% and now understand how. So it would be: 1. pay the $125,000 off the PPOR loan (not just offset). 2. organise with bank for LOC/split for $125,000 3. do deposit for IP, possibly including LMI upfront, from the...

I'd love to borrow the funds for the deposit and LMI as the interest would be deductible (I assume!) rather than from my personal warchest where there's no interest to deduct. But I don't understand how to borrow the deposit as I doubt the bank will give me a LOC on my 80% LVR PPOR that can't...

Ah that makes sense Redom - thanks. I thought there was another reason I was missing, and that's the re-valuation from that lender is your only option.

Hmm, thanks for that. I didn't know. I thought that the LMI was a borrowing cost and could be immediately deducted, that is that the interest payments on the LMI were 100% deductible. Are you saying that not only the interest payments on LMI are deductible, but the LMI itself is after 5 years...

Problem is howto finance first IP... I don't think it matters about PPOR, but the info is: - PPOR is at 80% LVR, Commbank, in my name only. - PPOR is being reno'ed, so can't do a valuation at the moment (eek if a valuer looked inside and saw missing kitchen, tornup bathroom, etc). - PPOR...