Help & advice needed for ex-pat investor

Hi I am starting out as an investor in property in Australia. I currently live and work in the UK. I have plans to move home and live in Australia again in the future.

I have an investment property (house) – PP $200,00; valued at $300,000 (Investment loan with St George Bank in Australia)
I am have made an offer on a block of 4 units (under 1 title) and am looking to get the finance to purchase – PP $637,000

I have contacted a broker I have used for the previous purchases and he has given me the information below regarding the finance

I’m looking at utilising St Goerge Bank again as you have your existing security with them from your house purchase and we will be looking at cross collateralising both properties. I’m going to need to make sure the loan to value ratio stays under 80% based on the security you are looking to purchase.  In this instance we have two security properties we can tie together.  P St and H St.  The total value of both of these securities is approximately $936,880.00.   Based on the type of security you are looking to purchase the maximum loan to value ratio (LVR) we can look at is 80%.  80% of $936,880.00 is $749,504.00. Your existing loan is approximately $205,000.00, we subtract this from your total lending limit of $749,504.00 and it leaves $544,504.00. Total purchase is $636,880.00 and maximum loan is $544,504.00 which leaves a shortfall of $92,376.00 plus we need to cover fees and charges of approximately $25,643.00 which is close to a total of $118.019.00 required from you to make settlement happen. Your new loan amount will be $544,500.00.  Based on the information you have provided for me you can do it, however it will require you utilising some of your savings.

Considering I am an ex-pat Aussie and therefore some lenders would not lend under that criteria – I am wondering if this is the best way to go about it as $120K of my savings will be all of it? Would anyone suggest any alternatives? Is it a good idea to cross-collateralise the properties? Would any lenders take into consideration the 50% share in my first investment purchase?

Any help or advice would be greatly appreciated.