Is this setup the way to go?

Hi @Terry_w

I have found the lender seems to be trying to ignore me when I ask specifics. I told him today to pls clarify and confirm that the loan has splits each with unique loan account numbers, and IO for the split with the IP deposit at a minimum.
I feel completely mislead and deceived. I had a long phone conversation outlining the structure I wanted and each time I asked for confirmation of this I was never given a proper answer.

I have unconditional approval however I'm not going to proceed with the structure the way it is

this is the response I got when I asked today to confirm it all:


Your owner occupied house is principal and interest, the investment property you intend to buy can IO.


Every document I have sent you during this process has outlined the loan against PPOR will be P&I.

 

Here is an example of the way he answers my concerns
My question:
Ok great, this is just really important for to ensure loans for personal/ non deductable are not mixed with deductable to comply with tax obligations.

require the 448k loan to have four splits; each with individual loan ACC numbers; and each with their own offset accs


One for our PPOR home loan

One for the equity release for IP loan

One for the car loan

And final one for the remaining balance

Banks answer:
What car loan? You are buying the car outright with the money?
...,.
(I am not buying the car with cash money- bank are financing as part of the refinance and and putting money in an offset- he considers this buying it outright!