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ANZ will want the LVR to be 80% or lower. You can go up to 90%, but that would be a full application and paperwork. ANZs default position would be 80% and they'll use cash from your sale to reduce the remaining debt if necessary.

It's not difficult to remove cross-coll from where you are. It appears you've got plenty of equity and when structured properly, ANZ are reasonable amenable to sorting this out. If you sell your PPOR without sorting it out first, ANZ will simply have your IPs revalued, and then cross the two...