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You did mention that in the first post.

Yes, you are mssing the part Marty mentions. Becareful as if you change to a LOC and use this for the PPOR or personal expenses and then for investing you will have created a mixed purpose loan

Since it is paid off you could redraw and use this to invest. Therefore closing one to increase the other is the same, except if there is a rate difference or a product difference.