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Hmmmmmm.....I am doing the second part not first. As lender seems to add LMI apportion to both splits generally....i.e. LMI on existing loan and LMI on new split..... good to know as i can see this becomes tricky from tax perspective especially when your existing loan is PPOR so you've PPOR...

Thanks Marty. it seems usually apportion happens across both splits....but assume if this is PPOR and you are creating new split by causing LMI then interest on LMI apportioned amount sitting on original PPOR split can't be deductible....but total LMI cost can be.....tricky... i am lost on...

thanks Jamie & Terry. Jamie, have reviewed the numbers few times and appears that won't be able to go higher LMI with new IP alone... I understand that purpose of the Loan increase (i.e LMI Payable) is for investment so LMI is deductible. But lender is also adding LMI to the final loan amount...

question for brokers.... Refinancing existing loan from 70% to more than 80% and using that money to fund the 20% costs for new Investment property. Plan is to set up the additional account for this equity release. As I am going more than 80% LVR would be payable. initial loan did not had...