Hey all,This is a finance question so I hope I am not putting it in the incorrect post or anything.Anyhow, I have just recently been the bank to get  a reevaluation and maybe some finance as I would like to acquire my first rental. However I walked away basically being told I can only do it such and such a way. What I did want was to top up my mortgage and use the cash for deposits on a new home or homes. Let’s say 30g as a separate loan but tied into my mortgage which would increase my payments. Then I (assumed) I could find my house, place a deposit and get a separate loan even maybe through a separate bank.I do understand that they will want some security but even with the 30g I asked to have the interest charged only when I access the money. “Oh no he said u can’t do that. It will be charged when u receive the money”.How do say. ”um yes I can” (so to speak) I just felt that the bank is working for the bank (obviously). I think if I had 1.5 mil already I would have gotten the whole handshake “Hi Dave how are you today, yes we can do that, what else do u require”I guess knowledge is power but my question is how do get around these hurdles and actually start building a relationship with these people. Also would love to hear anything else that this brings to your mind.Secondly I now have only 1 income as me and my partner have gone our separate ways. This was the second problem as I didn’t qualify for anything.Its just the loan officer added 1.5% to the loan which took it to like 10% (“just to cover market increase” he said) and also had my personal expenses at like $1200 a month. Which I told him there is NO way I spend that much on myself per month.So if I don’t qualify then how do I get Finance? HmmmI have plans to go and see a broker soon.Lastly does anyone have information on all this Interest Rate increase, unaffordable homes, Share market issues, American Rescission and how this all fits into perspective and what it will mean. I understand we are at the top of the boom or if u like just past but what does this all really mean for the future and how do we make money from a down turn. Plus what time does anyone think it is on the property clock.Thank you in advance to anyone who can help me.

Dave From Townsville Nth QLD

Hi All
I just wanted to ask a question.
I have a 2 beroom unit in Townsvile i paid abround $175,000 for about 1 year ago.

Slowly i have been doing a few things up like the back area and a paint job, a few light fittings and stuff. 

What i want to do now is get the property revaluated and acces the equity to buy another. ( just starting here )
So to buy my second.

For arguments sake lets say it comes in at $200.000 can i then get a separate $25,000 loan in a separate account to use at my will, for say a deposit.
Can i find a second home, place the deposit on the home and get a completely separate mortgage for that IP which hopfully the tenants will cover + my origional $25,000 loan and expenses of coruse to make it CF+

What i want to achieve is to avoid having the bank use my first PPOR as security.
I have spoken to them and they are sure i will have to use my PPOR as security and that i cant get a separate $25,000 because it will be tied to my origional mortgage.

Is this the case and if not how do i approach the bank and tell THEM excactly what i want.

I guess that is more than 1 question but any help would be highly apreciated
Thank all

Hi all
Since my last ( and first ) post i have actually read all 10 pages of this forum and some of the questions i asked have been answered
Thanks heaps
Any further info would be great
And Cazza69 i would like to know that site also
can u Pm it to me
Ta
[email protected][baaa]