purpose of equity withdrawal

[BMan]

based on your numbers your currently on an lvr of 74%
if you drew out your equity to an LVR of 80% you would have $22k for a deposit
if you drew out to an LVR of 90% you would have $58.5k

 

[Beijos2]

Thanks everyone, Terry etc for your points about deductibility

Thanks Aaron, for your point Re: redraw etc, i will look into that.

I am considering the next steps, as going through a whole new application and having to say it's for another IP etc just seems a lot of hasse if potentialy the bank val comes in low or they reject my application for some reason or another.

But if it has to be done - it has to be done

Thanks again