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Not a bad idea, you made a rational decision. It's generally suggested that if you use 95% lends, to do this early - which you did. Brady touches on a good point, as you've paid substantial LMI it may be cost effective to go up to 95% of the new value. There is greater scrutiny placed on...

I came to that figure by taking 90% of 245k minus current liability. That exposes your current accessible equity available. CBA will allow you to go above 90% for top ups, but case by case. 90% is an easier and more cost effective number. :) By putting the excess funds used back into the...

Not exactly. You can top up your existing IP1 mortgage to 220k, giving you 42.5k funds available. Those funds can be used for IP deposits. The new IP2 purchase of 205k will then use part or all of the 42.5k as it's deposit, a standalone loan for the rest of the purchase price. In simple terms...

Welcome to the forums. For the 205k purchase top up your current IP loan for the purchase. Avoid using your offset cash as this can be retained later for your PPoR purchase, to maximise tax benefits. re: avoiding x-col, have the equity accessed so you can use the funds as a cash deposit, don't...