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Different banks have different rules for releasing titles. Some will revalidate everything as suggested, some will only revalue the remaining security. I've checked with my PPOR financier (St George), who tell me they will just revalue PPOR and if OK, release IP#1. Cheers, Simon.

What they've done Queenie, is take your whole house (say $300,000 or whatever) to secure $34,000. Pretty good deal for the bank huh.... They had to secure your house against a loan, but instead of you getting the maximum available, you only got $34,000, and they got the full security...

You draw out the deposit and closing costs from your PPOR (or IP if it has the equity). You then settle the other independantly. Financially, keep track (I use a spreadsheet) that $X,000 of your PPOR belongs to IP # x You're still using your PPOR for the funds, but not giving the bank...