Yeah, I think it's best to consult directly an expert regarding this matter.

I could not agree with you more Jacqui.

You can rate the property based on your valuation. Before you lay down your cards, it is much wiser to look the agent's valuation first. In this way, you can safely determine the right value of the property.

In addition, you don't need to exert more effort since the BA will be the one to process the documents needed in your venture.

Yes, you need to pay in getting a valuation from the bank. You need to bear with the process before you get the right data of the property.

There where instances that those who did not acquire BA ended messing up their chances in owning a property. That is why; most of homeowners tend to hire a BA. If you do so, just make sure that the person is with licensed and credible.

I definitely agree with Tom here! On the other hand, JacM is right. You should contact a broker that can assist you in your venture.

Aside from MC, did you consult other mortgage service providers? There are lots of mortgage service providers operating in your place for sure.

"Yes make a principal reduction to your PPOR from your offset account and then take out a equity sub loan and use this as deposit for the IP. Keep the loans separate and the interest on the entire 2 loans will be deductible" I second the motion! I guess this is the best thing to do James.

I agree with both Mikal and Jamie here. You have to consult reliable individuals before obtaining this mortgage choice.

I suggest you go with the mortgage broker because they could provide you many options. What you need to do is to determine if the company or the person you are dealing is with good reputation and credible.

I never meet something like this before. Usually, real estate service provider tends to ask you for some deposits before you can purchase the property.

You should have check first if the property is about to get default before getting a 2nd mortgage in order to avoid situations like this.