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So loan B - if the financier is different to loan C then they don't require any evidence of where the money is going? How's that different to "cash out"? Do they just take your word for it that its going to be used for IP (from different lender). Or it just makes lender B happy that they can...

If the new loan against the ppor is then being used as a deposit for the new IP will the financier then cross collateralise the properties? Will they want to do their own valuation on the IP? Will they want to see the contract of the new IP?