Try ordering a few different types of valuation across a few lenders. Most likely there will be a bit of difference in the valuation amount quoted by each valuer. 

You may find that another bank will give you more equity than your current bank.

It doesn't matter if its interest only or not. Most banks offer free upfront valuations. Speak to your banker or broker and order an upfront valuations first to see how much equity you have. Its quick and its free.

Equity is calculated on the between 80% to 90% of the value. So lets say the property is worth $500,000 and your current loan against the property is $300,000. At 80% lend (which is $400,000) you will have $100,000 in equity ($400,000 minus current loan limit of $300,000). At 90% lend you have $150,000 in equity ($450,000 minus $300,000) but because the LVR is above 80% – you will be paying LMI which can be added to the loan (capitalised). 

In summary – start with the upfront valuation against all the properties to see what sort of equity you have. You may need to tap into a little equity from each property.

Depends on where you are building. A GF in Mosman will add 110% in value (value defined as the amount that the valuation will increaseby) whereas a GF in Wilmot will add 60% in value. This is a time where an upfront valuation will come in handy.

Oversupply of GF's in far western sydney is a massive concern. 

Where exactly are you building?

I have used service seeking for my current development in sydney and generally found it excellent. Some jobs attract a lot of people (like tiling, concreting, timber floor board installation, etc) and some don't (fencing, etc). I recommend you still do your due diligence. I also found that it was hard for them to give a quote over the phone/internet so they really need to come out and see the job. 

Good luck!

In that case your only option is to go with a specialised lender (i.e Pepper) but you will be charged an arm and a leg for establishment fees, rates, etc. You may need to go down this path and then refinance at a later stage.

CBA was running at 5 days but now its around 3 days because they worked over the weekend.

Is your total borrowings with CBA over $1mil because it will go to LMI and that will create blockages.

Other than that I suspect the broker (sorry I don't want to blame the broker) may have forgotten to send the necessary information the first time around which causes assessors to question things and once that happens then they start asking for further information/documentation which they may have not asked if the application was structured correctly at the time of submission.

What exactly is the default? i.e how much, lender default or telco default? Did you go bankrupt? What is the LVR? Also are you married? If so can the loan service under your partner's name?

I dare say that a block in hornsby would be sitting on a cliff or will be extremely steep. If this is the case – then your biggest issue will be rock excavation. This is going to cost lots. You can start by getting some ideas from an architect and then discussing this with a builder to determine approx cost.

The only variable here is the council. What if they ask you to excavate as part of the DA?

Do your own research and don't just follow someone elses. Your first purchase is oh so important because it will either anchor you or set up very well for subsequent purchases.

This forum is full of useful information. Also set yourself up with a network of like minded people and see what has and hasn't worked for them.

You need to engage a town planner – try Aaron:

http://www.aaronsice.com.au