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^ bank's POV - no difference, maybe just a bit more work to create the new split Your POV- A clear cut btw Ip 1 and IP 2 loans and should the "use or purpose" of each property change later down the track.ie you decide to move into Ip 1 or IP 2 than from a tax point of view the split is...

That would work...but i doubt the No LMI policy applies to refinance; unless it's a $ to $ refinance with no cash out..... oh well if only we lived in a perfect dream world :p:p:p

^ excellent, your an employee of the lender or your a Doctors etc..? Either way, good set up- seperate lender to your 1st deal so def know it's not crossed + no LMI + 90% LVR leveraged. Make sure the deal is set as I/O ( if possible as not all No LMI at 90% allows for I/O - but doesn't hurt to...