I have about 250k sitting in an offset account at the moment. It's offsetting my IP loan of 380k, which makes it positively geared for the time being.
In the new year I'll be looking at investing again, or buying a PPOR, but the bank has told me that I could only borrow another 200-250k based on my income and assets.
With the equity in the IP and the offset, I've got about 450k. But the bank is only willing to lend me another 250, which would make my overall LVR about 30%, how would I go about borrowing more than this? Do I need to be better prepared when I visit the bank or am I missing something?
Income, not including rent is about 90k.
Cheers,
Gooram
