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Hi SS, just another question regarding the interest only split loan (Loan B) that I have now set up. I was advised by the bank that the redraw facility only allows redraws to another of my (ie. normal savings) accounts before I can transfer funds to other accounts - is this still ok? I have...

Excellent, thanks for that Terry. I'll leave the funds in the split loan and redraw as required for the purchase of the new PPOR.

Even if the purchase is for me to upgrade and purchase a new PPOR ? Will this mean Loan B would be considered deductible in the future still ?

Hi guys, Just a follow up question - for the structure of Loan B (which is drawn from the available equity), is it best to have the money sitting in an offset account from the outset ? That way I draw the money from the offset and ensure that should I turn this into an IP in the future there is...

Will seek tax advice this coming week. Thanks for the info.

Thanks Rolf - not familiar with debt recycling but will look into it... However if I continue with my original plans should I still able to claim the original 123K as a deduction ?

Terry - haven't used it on anything related to the property. Just redrew it and now have it sitting in an offset account.

Rolf - it was 40K in one go. Just redrew the extra principal payments I made. Was never an 'all in one facility'...

Excellent thanks for the replies guys ! Yep definately a bummer that I've reduced so much on my existing property... Had no idea about these impacts when I first bought but better late than never right !!! Jamie - thanks will look into the split loan (only ever looked at LOC) and upping...

Hi SS, Would really appreciate any advice to help me on my current situation. Just for background, I currently have a unit as my PPOR (410K) with 163K I/O loan outstanding. I am now in the process of upgrading to purchase a house to be my new PPOR ? value up to 600K. I will convert my...