My current PPOR was financed with a 20% deposit, I/O loan with surplus funds deposited into a 100% offset account.
The house value has increased by $150k since I purchased it, and I would like to use this new equity to fund a negatively geared investment property worth $800k.
What is the best loan structure for the investment property to access this equity without 1)paying LMI and 2) paying more money into the PPOR loan?
My bank manager encouraged me to pay more money into the PPOR loan to keep borrowings at 80% to avoid LMI, but I do not want to loose the flexibility of using the PPOR as an investment property in the future.
The house value has increased by $150k since I purchased it, and I would like to use this new equity to fund a negatively geared investment property worth $800k.
What is the best loan structure for the investment property to access this equity without 1)paying LMI and 2) paying more money into the PPOR loan?
My bank manager encouraged me to pay more money into the PPOR loan to keep borrowings at 80% to avoid LMI, but I do not want to loose the flexibility of using the PPOR as an investment property in the future.