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But I agree with you (I think!) - or a lack of education/stuck in their ways.

Seriously, how hard is it to fill in a few more pages and 'clone' an application to another lender portal?! This is a weak excuse for x-coll. Its just lazy for someone to do it on that basis.

If its solely for investment use, then use. :) Deductibility is based on the purpose of those funds. Cheers, Redom

Yes, I think its a good idea. Can put the excess funds into the offset or back into the separate split investment loan and redraw it out when necessary. Cheers, Redom

Option 2 is much much better. Tell him to do it like that. Cheers, Redom

Its a little hard to say without more info, but I like starting out at ANZ/CBA depending on whether it fits in with ongoing goals and ability to release equity out in future. Suncorp and ING (MEbank too in the fixed space) are generally 'rate' lenders for brokers - generally use them for FHOB...

Ah sorry, just saw this. Best to fix it up now with that much time. Tell your broker that you don't want your loans crossed and for him to go back to Suncorp and make sure each loan has an individual security against it. Better yet, tell your broker to go a more suitable lender if...

Hmm IMO cceasy, if settlement is <3 weeks, i'd leave it as is. The magnitude of your problem needs perspective, i think we may have created a bit more fear than necessary. Its not the end of the world and has a very easy fix. I think your best port of call is to team up with someone who...

If each loan contract has one individual security on it, it means your not cross collateralised.

Hmm its hard to tell cceasy - trying to find how far down the process you are exactly. Are you about to settle? If so, its probably too late and changing finances now could tank the deal. If your 3 weeks away +, you should be ok to adjust now. Re clawback fees, I assume you would've...

Check the 'security' section of the loan contract. Does it have one security or multiples?

Are you talking contract of sale for the property or loan documents? When are the settlements due? Brokers that operate in Sydney are a plenty on this forum. Cheers, Redom

Ok - putting some perspective, so long as your borrowing power is there, you should be fine to achieve your goal. You've started on the back foot, but by no means have trapped yourself or stopped yourself from achieving what you've ultimately set out to do. Its more difficult to take out...

In terms of what's involved and how it works: You may be in a situation where you have $1mill worth of property and a $460k loan with all three securities against it. You can do a valuation on each property, say $330k each and then borrow 46% against each individual property. Therefore...

That's poor form, never mind the cross x, the part that your now refinanced to Suncorp on your PPOR against your instruction is just wrong. Probably because they were paying quite substantial bonus commissions (potentially worth thousand(s) for 3 loans) a few months back too. Anyway, moving...