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Thanks all... I'll be getting the update contracts next week to re-sign...

Sweet thanks... I've advised him to make the change... Thanks again everyone for taking the time to help me prevent future headaches

Going with option 2 can I have the 80% in an offset account and claim the interest on tax when I use it to purchase investment properties?

Cool makes sense thanks Peter

So if I was to go with the 2nd option, in your opinion should I borrow the complete 80% and leave it there so that I can draw on it when I find other properties? Does the 80% sit in an offset account?

Can you please give me an example of a structural solution so I can further understand what you mean?

Ok the broker got back to me with this option... Does this sound like a better approach and something you would choose? Your current loans are set up like this: ? Loan 1 for property 1 $255K secured by your home and the property 1 ? Loan 2 for property 2 $255K secured by your home and the...

Thanks Brady... See this is what I mean... Surely the broker should be telling me this not me hunting for information

After a quick look, Is line of credit the best option to purchase investment properties so that you avoid LMI? I assume LOC is better that cross coll yeah?

thanks for sharing... yeah I don't want the hassle later on... didn't realise there were so many negatives with cross coll...

I;ve asked him to email me the options I have if I don;t collaterise... If he could outline the key positives and negatives so I can understand...

Thanks Peter.. I would love to pickup the phone and call someone but not sure who to call in my area that is good... Idon't want to call a bad broker and further dig myself into a hole... I just feel confused at the moment

Ok I just got off the phone with my broker... He seems a little frustrated with my, I don't know why as clearly I don't know exactly what steps I should take but I don't want it X coll... he's saying it makes no differnce if I do or don't... he's asking me what I want to do when I really don;t...

Cool doing it now... is there a lender that you recommend I should look at?

Thanks for your kind words... And thank to all who have replied... SS has been a wealth of knowledge for me

Damn I'm kicking myself for not acting on this sooner...

From memory it stated that the investment loan has security over PPOR

Settlement on the 1st property is the 18th of March so decent time... No settlement date yet on the 2nd... so should I speak to my broker now? If so, what should I instruct him to do?

So preapproval has been done, when offer was accepted and emailed the broker all the details of the property and then the bank approved it... they sent out the loan contract and that's what I've signed and posted back

I don't have the contract with at the moment but will check it... So once I check it, what does this mean whether it's one or multiple?