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As well as x-coll, which NAB always do, you've also just extended the loans rather than splitting off the equity. Are both properties IP's? If one is your PPOR you need to split the equity off before you spend any on investment stuff, or you'll have a mixed use loan. Even if both are IP's...

Nope. NAB is X-coll King and they're all trained that it's the only way. It will be no different there. Get him to speak to a broker.

Mobile lender is reluctant b/c it's work for him with no reward. Also means clients doesn't trust him and is not happy with the way the loan was set up. Grumpy mobile lender. :rolleyes:

If he stays with nab there is no need to discharge mortgages. Based on those lvrs, it should be very simple - just releasing a security on each loan. The risk with waiting is that property values decrease or you get a bad val. This could put you in lmi territory on at least one property...

It depends on the properties and how they're structured. If they're all on one loan it's different than if they both have similar LVR's but 2 loans, and different again if one if high LVR and one is low. It's not about getting out equity, it's about being able to sell when you want to. Even...

It should be no trouble to untangle this at all, and I would suggest getting it done as soon as practical. As Terry said, the implications can be devastating in some cases so it's worth doing while you can.