"To have some spare cash"Which would essentially go to a deposit for a new house. So now good then. Thats a bummer.

I can see myself in a similar situation, but with time on my hand. I have not bought my new PPOR yet.I have heard that i can re-finance my current PPOR loan now to a higher LVR and then when it becomes an IP the larger interest amount will be claimable. Is this correct?CheersNathan