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That's the point, the use of the new loan IS to refinance. It pays off the deposit loan that's secured against the PPOR. Only change is security and lender, overall loan amount does not increase.

Thanks Rolf, I figured it should be OK, (but then again, when it comes to tax issues the assumed logical isn't often correct). I can't really see how it is different from say refinancing the original IP loan, which must be fairly commonplace? It's purely for bookkeeping. I like the idea of the...

Maintaining deductibility of split loans? Hi all, I thought this seemed obvious, but I'm now reading conflicting arguments and wondering which is correct? Scenario:- IP1 - Purchased using 95% loan against IP1 IP1 - Deposit and costs as a split loan against PPOR Essentially, 100% of...