Hi guys
Sorry for another question..
I've got my unit which is my PPOR which currently has an LVR of 80%. If I were to get this revalued after doing a reno at increase LVR to 90% and used the full amount of the new funds as a deposit for an IP, would the full amount of the LMI be deductible?
Would this change if the depending on whether the unit become an IP itself or stayed as my PPOR? (would split the loan if it was staying as PPOR)
Thanks in advance!
Sorry for another question..
I've got my unit which is my PPOR which currently has an LVR of 80%. If I were to get this revalued after doing a reno at increase LVR to 90% and used the full amount of the new funds as a deposit for an IP, would the full amount of the LMI be deductible?
Would this change if the depending on whether the unit become an IP itself or stayed as my PPOR? (would split the loan if it was staying as PPOR)
Thanks in advance!