Hi Richard,Thanks for that. That makes it very clear but just another question, let's say we would like to buy another property sooner rather than a few years down the track, how does one do it ? Is it wise to borrow 90% or try to look for cheaper properties which in Melbourne is a bit discouraging at the moment.( looked only on the net,…[Read more]

Hi Richard,Is this what you mean?Refinance the PPOR, establish a line of credit, take 20% deposit from PPOR loc,  borrow 80% of IP so it is a standalone loan?By the way, how much money do you reckon we might be left with after refinancing?Thanks,Mimi

Yep, thanks for that. I was a bit unsure if the interest on the redrawn money would be tax deductible and you've cleared that up.Now all i've got to do is make sure I understand all part of it