Thanks for that very helpful information, Marc! My husband and I are paying off a 2-bedroom apartment a bit of a distance from the city (where hubby works) and we're considering renting it out and renting somewhere closer to the city. I didn't think it'd be a wise option (money-wise) but now I think I will look into it more 

Someone correct me if I’m wrong but LVR = Loan to Valuation Ratio meaning wealth4life does not like to borrow more than 50% of the property’s value.

Thanks JHopper – we’re on the ground floor of our block but we’ll check with strata anyway….. I hate having to check with someone before doing something to my OWN place! Grrr…..