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Makes sense, thanks all.

I was talking about the initial valuation to get the first loan. For example if you brought a place for 200k but when applying for financing the valuation comes back at 250k. I was under the impression that the valuation will always come back at the purchase price but have heard rumours about...

On a related note, has anyone been successful with getting an initial valuation that was higher than the purchase price?

It seems all the banks are being conservative when it comes to cash out to be used on another property that won't be financed with them. I even found this when looking to cash out to only 80% LVR, had such a hard time with NAB about it. Firstly was told that we couldn't do it at all, then...