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I have a similar question.
I have a PPOR, have lived in it since I bought it in 2004 and currently renting it out since 2006. Currently Fiance and I are looking to buy land and build our future PPOR house (we actually found the block and plans will start soon). I know that you cannot have two PPOR – so what is the process ?
I was initially considering re-financing my existing PPOR loan (which is Std Variable, P&I) into an investment loan…but after some thought – I think I'll be worse off and prefer to pay some principle off and should just keep it where it is ?. (I haven't done my tax yet – naughty!)
So does anyone know if I'd be better off leaving it as is (as advised by accountant).Ok my third query – I'm shopping around for a loan for the future house.
Any help out there ? I'd prefer to go with the big bank names…
Initially one gave me a good deal, however just been told that's only based on me refinancing my existing loan with them.Thanks for reading