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well i have only been approved, so no payments yet, settlement in 27ish days.

hmm, so the loan is $250,000. lets say i pay of $150,000 over the next 5 years. You're saying that if i redrew fir instance the entire $150,000 only the interest on the remaining $100,000 would be deductable if/wehn it became an IP? re-read 5 times and makes a bit more sense. so how easy...

i have gone the redraw route with a 55 day interest free CC. My place will probably become an IP at some point, but there is no reason why i cant just remove my excess loan payments when i start seriously looking for IP's. and change products. knowing my luck, the bank will remove redraw...