No, I didn't have my name added to the title.

Our PPoR was already paid off anyway…

Thats exactly what I said.

Seems like common sense to limit liability wherever possible.

Does anyone use any online/offline property management software?

OK I understand.

With the LOC, is that at a higher interest rate?

Would it cost to redraw up to the 80% LVR of the re-evaluation of the IP?

Does this structure offer more protection for my PPoR? I'm assuming it will because Id only have $70,500 + costs tied to it, compared to the whole amount. Even so if the bank needed the money, they'd still sell my house to get the 70k + costs.

With this structure, is the interest charged on the LOC tax deductible?

Why wouldn't you simply pay off the LOC first then start dumping extra money into the offeset account?

Sorry for all the questions.

Thanks again.

I think I need to explain.

Firstly I currently hold the title to my PPoR which is values at 1.5 mil.

The loan for the IP will be $372,500 to cover all expenses as well.

I do not want the bank to hold two titles and they were going to slug me LMI if I used the IP only as security (>95% LMI).

So, I opted to use my PPoR as security, thus reducing the LVR so I don't have to be slugged LMI. In return I will receive the title for the IP.

When I pay down enough of the load below 80% LVR or so, I can swap the titles over is I choose to.

So you see, there is only one loan, with one title held as security, linked to one MISA account.

Make sense? Is this right?

We compared 6 lenders, although CBA came out second out of six in terms of total loan repayments I chose CBA.

I currently hold accounts there and the wealth package now eliminated fees on those accounts.

I read that Bank West are despicable in terms of settling, and I have a 45 day settlement.

Any other suggestions? Also, to my question regarding IO loans …