Thanks, guys, for your advice – which has been very helpful.  I guess what seems to be happening with my last purchase (present reno) is that I have x number of dollars to spend but by the time Ive finished the reno and put the house on the market, I end up with the same amount in the bank!!!  Perhaps I shd be grateful its not a loss!!  I cant seem to improve my situation so obviously doing something wrong.  One reason may be current property downturn as I, like everybody, made money in the Sydney property.  Not sure how to email privately as you offered, Trakka, but could you explain why I should consider refinancing?  I really am a beginner, Im afraid.  And, HLeung, could you explain what a no doc/lo doc loan is?  Thanks a lot

Del