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Thanks Terry. That makes sense and I will look into that option. As we are both working and both in the same tax brackets then we will look at parking our savings against the 20% offset thereby not paying any interest on this amount until we want to reuse it later.

Thanks for the quick replies. The LOC that I took out is interest only and I intend to use this for the 20% + buying costs. I have already secured the 80% with another lender and locked it in for 3 years as I got a good rate of 4.59% so no offset facility attached to that. Is it worth looking...

Hello Folks, I was hoping someone could give me some advise with a line of credit loan that I recently got setup using the equity in my home. I own my home outright and got a LOC loan approved for 80% of the value of my property. We are staring our IP journey and settle on an IP at the end...