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Thanks Terry. I get that - the $40,000 is essentially an open loan secured against the property; what it is used for isn't of concern to the bank. Hence using the money for a deposit is fine. In fact, doesn't it also mean that the interest on the $30,000 deposit is tax deductible since it is...

Hi Terry (or anyone!), I feel silly, it seems you and others are saying that one can gain access to more money from the bank for IP (LOC or loan) without securing against a PPOR. Can you explain more? As an example, if 2 years ago I had a $400,000 loan on a PPOR purchased at $500,000...