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@fwrmr Wrong. They’re renting while they’re building, hence they needed an interest only loan - which is standard practice for construction. Once build is finished they move into the new house and stop renting, so the rent money is the current short term problem not the P&I.

@billyjames I would be going after the broker to fix the issue - check if they made sure that they declared your rent expenses while building to the bank, presumably you declared that to the broker. If they had, and serviceability was met, then technically you should be ok - even if you’ll need...