Thanks for all your comments. I really do appreciate it!

Jamie, we do plan on turning our PPOR into an IP eventually and we also plan to be very active in the propery investing area and not just buy one or two but more like ten or twenty (depending on how many we need to get where we want to be).

I understand that how you start and how you first set everything up is really important and can save you a lot of money. I'm just trying to be as prepared as possible before we jump in and buy something.

Thank you for all your advice Derek and Richard.

Looks like I just need to concentrate on the debt reduction and worry about investing once its in a better situation.
Meanwhile, I'll keep reading the forums, books, magazines, websites etc and gain more and more knowledge until the time is right to proceed.

I am currently looking at applying for a balance transfer interest rate of 0.99% for 12 mths for our credit cards.
If I get the card, I'll pay it down as much as I can, as quick as I can and hopefully I'll be posting on here sooner rather than later about my first IP purchase!

When it comes time to take the leap, I'll definitely keep you in mind Richard!

Thanks again.