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Great, thanks for the reply!

Hi Terry, funds have been deposited, they will create a new account for us, just wanted to double check, is a new offset account Ok? Or a 'normal' account? They also said if it goes into the loan account for redraw it needs to sit for 30 days before it's available to redraw.

No worries, thanks Terry!

Should I ensure all money is transferred out of that account before the reno funds come in from the bank? The rent from the IP goes in to there too, mortgage repayments come out. That's non borrowed money. Hmm...

We have an offset account, interest only - so there was nothing to redraw. Thanks, I'll check.

Hi guys, was just reading all of the helpful replies in: http://somersoft.com/forums/showthread.php?t=107153 Started to get a bit paranoid. We're in the process of getting equity of $10k for a small reno, is it fine to leave it in the offset account when we get it? We currently have the IP rent...