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  1. A

    Drawing equity for new PPOR

    Yes if you already paid LMI you will get a credit for the new increase. You just create a new loan on top of the existing ANZ one.
  2. A

    Drawing equity for new PPOR

    Don't do the x-coll as the LMI will go up exponentially as your total loan amount will go beyond $1m. Best way actually would be to pay LMI on the smaller property and pay less LMI on the bigger one. Loan split on property 1 for the equity released and new loan for new property.
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