Refinance opinion

That's good news (structure wise).

Go back to the ANZ (or the broker set up those loans). Request top ups on the loans in the appropriate structures which I think you understand. I'm reasonably confident that ANZ would do a discount of about 1.2%, possibly more at the moment; especially if they thought they're going to loose you.

One argument for moving is diversifying your lending, but this comes at the cost of missing out on cheaper rates. Depending on your income circumstances you'll probably find that ANZ is unwilling to do equity releases sooner than other lenders, which could be a problem either now or in the future. The good news is that if you're leveraged to 80% or less, moving isn't entirely difficult. The caveat on this of course is it assumes nothing changes which might make it harder to refinance later if you have to (and things do have a strange tendency to change).

Hi Peter, I haven't spoken to ANZ yet about equity release since my last conversation with retention team last November. My IPs were bought in Sydney and Newcastle few years ago hence there are some equity available. My current PAYG income is ~350-360k (not include rental income). I was planning to discharge mortgage of our current PPOR. It may improve my borrowing power???
 
Terry, it would make it very difficult for them to touch the asset unless I tried to hide from the creditor from transferring the property post "event" (I am talking about medico-legal cases end up in the court for compensation)

Why would it? Very easy to argue resulting trust with your wife as trustee for 50%. Your position would be even weaker if you had a joint loan.

See Cummins case and there are many after it.
 
Hi Peter, I haven't spoken to ANZ yet about equity release since my last conversation with retention team last November. My IPs were bought in Sydney and Newcastle few years ago hence there are some equity available. My current PAYG income is ~350-360k (not include rental income). I was planning to discharge mortgage of our current PPOR. It may improve my borrowing power???

Without doing a full analysis, I don't imagine you'll have much trouble with most lenders. At a glance your borrowing power is likely quite high.

Discharging your PPOR mortgage will improve borrowing power, but not rate negotiation power. More specific information would be needed before you want to make this decision.
 
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