Few updates:

Our  offer of $445K got accepted. I went back to NAB and clarified the loan situation. We don't have to sell a property and we are able to service loan up to $570K. NAB ordered a valuation of current PPOR and came back at 430K ( driveby ). Another lender did a valuation today and went in, came back at 470K. With the top up for the 2…[Read more]

Free valuations ordered this week came up at the following. 
PPOR- 450K
IP1- 350K
IP 2- 420K

… and yes all loans are standalone. Thanks again.

Checking the loan documents now, we paid LMI on IP 2 purchased in 2010. Thanks again.

All loans are with NAB choice package at variable of 5.68 % with the discount. We went back to them, couple of weeks ago and would not lend without selling one of the properties. Refinancing at 4.99 % hopefully for positive gearing. IP#2 at 400 per week and current PPOR modest estimate of 430 per week.  IP# 1 is renting at 355 per week. We don't…[Read more]

Thanks also Jamie. Definitely a starting point of my discussion with my accountant before I proceed with this. 

Thanks a lot Shahin. I am looking at Citibank at the moment for their 85% LVR with no LMI for the new PPOR and possibly Homeside for the 2 IPs and the current PPOR soon to be IP. Any suggestions for lenders? Thanks again.

Thanks Richard! Your response made it all clear to me now. I have another broker who suggested a standalone for the IP and doing exactly what you said. Although the 1st broker has invested so much time on us already and I don’t know what to tell her now, I think I’ll go for the other broker who I think is giving us a better deal. I’m just gonna…[Read more]