Signing Loan today

Hello Everyone,

Hopefully you can help or offer some light on the below situation.

Our current place of resident has been transferred over to husband under love and affection.
It is currently valued at 370K with a loan outstanding of $180K. This PPOR will be used as an investment property in the next 6months and we hope to buy a house to live in.

We have had approval to refinance with ANZ for the investment property and to purchase a new house as a primary PPOR.

Our intention is to bump up the investment property loan to the max $370K to take advantage of the tax advantageous.

Our confusion is ANZ have approved a loan for the current PPOR for $230K, giving us a deposit of only $50K.

Shouldn’t they approve finance for $370K in order for us to take advantage of the tax breaks?

Our mortgage broker is not really on the ball with how to structure the loan.

Apparently we will be given additional finance once a house is found.

We have an appointment this afternoon to sign the loan but not sure its the right thing to do?

Is there anyone in Melbourne you could suggest we could go and see to chat about this who specializes?

Appreciate your help.


Not being privvy to all the numbers, id say that youd be looking to do a max lend on the new "IP" as you have indicated.

Until such time that you have the New PPOR ready to settle they cant do a 100 lend, secured on both places.

Hi Rolf,

We have just spoken to our accountant and he has just confirmed they have setup it up all wrong. Luckily we checked........