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PRESUMING your broker structure the loan correctly and in a tax efficient manner.. The way to overcome your issue, which is common; is to have 2 loan splits or multiple loan splits if required for tax reasons. Loan 1 ( ppor) : $340,000 - P/I -- 4.69% All good? Loan 2( not 100% sure what...

Not apparently... It WILL stay the same, there's no condition to say your home loan needs to maintain a certain "loan balance" in order to get the discount.

I understand where your broker is coming from, and sometimes it does make sense. Ie i had a deal with ING, where the refinance amount was $482,000 so instead of doing a direct $ to $ refinance we asked for other $13,000 to make the loan amount $501,000 --- the rate went from 4.88% down to 4.83%...