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It's the only way we've been able to get at "new equity" - i.e. where prices have risen, or where the principal has been paid back as part of a P&I loan. The only time you don't need to would be if you have made extra repayments that can be redrawn (assuming your account has a redraw facility)...

That's fine - I just wasn't sure what form that equity came in when you said "available" - eg has it got a redraw facility? The way we did this (and I suspect the way you wanted to do this) is: 1. call up current bank (not broker at this stage). 2. ask for reval/refinance 3. extend loan to...

Just 1 clarificaiton I am needing personally (I may have misunderstood) - when you say $300k Available Equity, what do you mean? The Y-man

Really needs a bit more in depth info - there's a vague possibility that whatever deal the MB has got with respect to costs etc may only be available when a certain amount of business is with them. It is possible to have 2 loans with the same bank and not x-collateralised. On the other hand...