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Thanks for the replies folks. Baby blue eyes, that's great to hear that you did this with Westpac too, so basically they create a new loan account (separate from my PPOR loan account), draw the full amount for the IP deposit (e.g. $150,000), then place the full amount back into this new account...

Hi folks, I'm relatively new to the forum and hoping to start my property investment journey in 2014. I have applied for my loans, and just received a call from my bank manager at Westpac to come in and sign the paperwork for Loan #1 (20% + purchase costs for IP). The issue is that she...