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Thanks hugely Terry. Just had a look at the PBR application forms and process. Always thought it to be quite daunting and belonging to the suits and white collars of the world but it is actually very straight forward and simple. Might have to get me a whole string of PBRs ;)

Interesting that you mentioned Post tax dollars Rolf. Would interest from a LOC still be deductable if the LOC funds were parked in an offset account that also received the monthly rent? Does anyone know how to get a PBR. Do I have to see a lawyer or accountant for this or do I just go to...

Yes you assume correct jroth. Should have used the appropriate terminologies. Keep the existing IP loan as is and establish a new LOC for the remaining equity. Then park the LOC funds into an offset account which does not have any non-deductable debt. Any funds in the offset account is...

wait a minute. I was always under the impression that if you took the equity out of a property and placed it into an offset acount with the account only used to pay bills associated with the property (ie: interest rates, council, management, etc) then the interst accrued from the equity draw...