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Hi All Here's a question about next steps for our situation... We own a PPOR outright, and 2 IPs with Interest Only loans. All going well so far. We are thinking about selling PPOR and moving to a different PPOR and have different options: 1) Buy an existing house as PPOR, and...

Rolf, you are right. There would be no LMI because the LVR would be only around 50%. Whilst I understand that we could do LOC against PPOR to borrow the deposit and then get an IP loan from another lender to avoid cross collateralising, I did verify that in the future it would be easily...

Guys Just an update on this one. We visited a mortgage broker today and I understand that LOC is not the best loan to use in our situation. We are looking at just a standard variable loan with 100% offset secured against PPOR and IP1, borrowing 100% + costs of IP1. This seems to be a...

rugrat, Collector - thanks for your great responses. So, it seems like the method I was proposing is maybe not the best idea. The thinking behind it was that, given that we have 20% + costs deposit for IP1, why give the bank security over our PPOR too? Would it be significantly better...

Hi everyone Just a quick query regarding your thoughts on the best way to use a LOC in my scenario. OK, we have a fully paid off PPOR and will shortly be buying IP #1. We have no debt at present. IP #1 will be financed with 20% deposit + costs in cash; the rest being borrowed via a LOC...