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You could tell them you want some cash as a buffer in the even that interest rates rise and you want to have some cash behind you to cover the rate rises, or you want a cash buffer for future renovation projects. They are bound to ask. Buying a new ski boat or bigger plasma are not good...

Rachels, I bought a property a while ago with a $200k loan for a $250k property. I did a reno and asked the bank to reval a few months later with a view to extracting the equity I'd created. The valuation came in at $320k, so I ended up with $56k in my offset account. From my point of view, it...

Get it out sooner rather than later. Banks are restricting their policies more and more. Last week, I settled a re-finance loan with Westpac. This week, they have rejected my application for another re-finance loan due to an internal policy change. If I'd lodged the application earlier, I...