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Well I thought as much, funny how they still call it lo doc when they ring that much info out of you! I have all the documents they would need (I do the books and BAS, then we pay the accountant to 'prepare' the BAS I have done so it's spot on) I have no idea if all our figures would look good...

Thanks Richard, good to see you've had a positive start to 2010, hope this trend continues! We're definitely going to wait until we as many ducks in a row as possible before presenting our case to a bank. So is Lo Doc our ONLY option due to self employment? The ABN was effective Oct 1 2008...

Thanks so much Skater for your replies, I appreciate it. RE the brokers, I was wondering the same thing myself, I guess they may be still ringing in the New Year! Yes will definitely separate loans etc and our accountant says the interest is good to go for deductions. I'm still considering...

Wow, the prospect of trying to raise $80,000 to avoid LMI on a PPOR is leading me back to just selling the IP and starting again with just one mortgage for PPOR? It will take us years to save that amount and prices will have increased on property as well of course. Would selling to buy be a...

Thanks Skater! One Direct don't offer offset savings accounts etc, they are pretty inflexible but the payoff is that rates are always cheaper thank the Banks. So we should be trying to build our own deposit rather than redraw our equity on the IP as a deposit? I suppose that's because any...

Hi all, here's our situation: We have our IP (former PPOR in another town) currently tennented at $350 pw. We have moved and have been self employed for a year. IP was valued at $300,000 2 1/2 yrs ago, currently owe $216,000 on mortgage. Mortgage consists of $170,000 fixed at 7.74 % til...