Cheers for the advice!

Well the problem is… the debt on the land is growing by 9.66% annually, so I kind of have to get the property on the market. Im not sure how the land is classified. I received it in 1993 and theres no buildings on it + it's based down in metung, victoria (out of the city). 

How does this plan sound:

Plan to buy

– House = $400,000 – $500,000

Funded by

– Deposit = $40,000 – $50,000

– Land = $150,000

Plus Loan

– To make up the remaining 90% of IP

– To cover Debt on land ($65,000)

= $425,000 – $525,000

Would it be possible to get a loan that large considering the equity I will have?