1. You have paid LMI and therefore have LMI credit. Do the numbers before freely considering a refinance. Thats not to say that future properties cannot be with another lender.

2. If the properties are cross securitised and you do sell one then NAB will need to order a valuation to ensure that they have adequate equity against the current property. 

3. Order an upfront val to determine the value of the IP. Its free and will give you a good idea as the plan of attack for the PPOR and subsequent IP purchase.

I would take a torrens title villa/townhouse over a unit any day. The other problem I have with units in blacktown is that there is a massive oversupply. Townhouse is a much better option.

Short answer is yes if the application is structured correctly. Make sure you draw upon the equity against the land and not linking the securities together.

Best to map out a few scenarios – you have strong cashflow and a decent deposit base. You need to determine whether you go for more of a cashflow play or CG/equity play. Depending on the purchase price – you may consider a high LVR lend or less (80%). Lots of things to consider and think about. Start with a few scenarios and don't forget to do the numbers.

Did he pay LMI on any of the existing properties? If so then he is losing the LI credit he has up his sleeve. UBank is a good non frills lender but terrible cash out policy and security/development policy so it all depends on what he plans to do with the each of the properties. 

A lot of people underestimate cashout (in order to fund for further purchases) so you want to tackle this sooner than later.

Think longer term. If you have an aggressive IP acquisition strategy then go hard go early. $240k is a sweet spot for a 95% lend. LMI is tax deductible for the first five years and you can park the remainder of the deposit in an offset account to be used for subsequent purchase/s, renovation or development. 

Many investors hit an equity wall so don't underestimate this and again think long term. 

Whatever you do make sure you structure this loan correctly.

Who is the current lender?

Hi Peter,

Your comment seems to be purely based on their service and not the tangible product itself in order to measure/rate the quality of the stock. Are you able to comment on the quality of finishes, strata, etc?

Speak to your banker or broker for specifi advice as the loan is in LMI territory and certain things would need to be verified. 

Need much more information to give you a definite answer but taking into consideration certain assumptions (such as the fact that you don't have any dependents) you do service with a few banks but servicing is very tight. This is also on the basis that the casual employment cannot be used. 

Which state are you purchasing?

Ok so the existing property will be turned into an IP and the new purchase will be your PPOR – is  that correct?

Also are you planning to convert the new PPOR into an investment anytime afterwards?