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Jebb, you get caught out both ways. although you get more yen to the AUD the value of your properties has actually gone down if you sold and tried to pay back the yen. They may ask for you to top up the difference in this situation.

Jebb, One of the main problems with borrowing in yen through Japan based Oz banks is they way they set the LVR criteria when you initial borrow. If the currency fluctuations take you above the LVR you may have to put cash in to bring your LVR down. Have had a few dealings with some of these...