Hi all,

Many thanks for your helpful replies – I appreciate it. I did double check this with my mortgage broker today and you are all right, he was trying to cross collateralise.

I told him I didn't want this, so he will get back to me with other products where this can be avoided. However, he did advise that I may lose out in some tax benefits…[Read more]

Many thanks for your advice, Terry.

I will definitely stress to my mortgage broker to avoid cross collateralisation if this is what he had planned. Will also mention the LOC you advise of and see what he has to say.

I realise I sound like a complete amateur when I post this, but I am new to this and my mortgage broker sounds like he is speaking…[Read more]