Hiya
Yes, an LOC of a mill or greater is poss but many lenders will baulk at having such a large non-amortising facility. Somehow they feel that by reducing your cashflow and committing you to a P&I regime that the risk of you falling over is lower.
If the serviceability is good and the LVR is ok, and your overall situation is ok and the security is a "good" one then you should be abel to get that organised.
Alternatively if your lender wont go there, try a good independent mortgage broker OR use an IO loan with a 100 % Offset acct with an I?I period of 5 to 15 years.
Ta
rolf
