Ok so thanks for everyone's opinion of my broker….I spoke to him yesterday and he can get us $480k after assessing our BAS's *shrug*

Airstrike I totally get where you are coming from, our loan servicability is the main problem. Yet its ok for my cousin who is a single mother on Centrelink benefits – she can get a loan no problem as she has steady/regular income. Totally blows me away that we work our knuckles to the bone (literally I cut myself putting a bolt in earlier) yet we dont fit the criteria…oh I could go on…wooosaaaah….

I had a discussion quite a while ago now with a lady (from a particular property investment group) she advised I should look at taking out a LOC using that as deposit for purchasing IP, get a LoDoc loan for IP through another broker and then I'm off and running. Is this a feasible way of going about it?
I know its a personal choice, but do I just get into IP now for the future and stick it out in my little house, or do I blow it on building my dream home and look at IP down the track.

Thanks for the reply.

We've been using the same broker that initially set us up for our loan to buy the business. Our loans are currently with Colonial, which is pretty much CBA. So its really the broker telling me what I can and cant borrow, I'm assuming he's just using his software. I've only heard good things about this broker where I live, so maybe I'm just a cynic.

Maybe I'll look into some other brokers just to see what they can do for me.

Cheers, Te