I currently have two fixed loans with TMBank on my PPOR: Non-deductible, 4.49%, ~$580k Deductible, 4.19%, ~$120k I've spoken to the bank and my break fees are actually zero and they're offering a 3 year fixed loan at 3.74%. Now, I've got around $100k sitting in my offset against loan 1. What I would like to do is to do the following: Break the fixed rate on both loans for free. Pay down $100k on loan 1, making it $480k. Redrawing $100k on loan 2, making it $220k. Ideally: (Redrawing even more on loan 2 to bring the total LVR to 80%) Fixing both loans at 3.74% Transferring the $100k to another deductible loan offset account that's at a higher interest rate. Basically, I need to know which of these steps I can take without triggering a full loan application? The reason for this is that we've bought more properties and had a reduction in income and I'm almost certain that we would no longer fit the lending criteria for new loans. I'm guessing step 4 is out of the question, but are the other ones possible?