Accessing our equity - help please!

Morning all,

We have had a fabulous business opportunity come up and are trying to pull together $100K from our portfolio to buy into a company. We have had our mortgage broker working on accessing the funds but we were told today that our lenders (RAMS and CBA) will not refinance any of our loans because my hubby has recently gone self employed and they want to see 12 months proof of income!

He has stayed in the same industry, just changed from salaried to self employed and we can show a constant income stream (he is actually earning about $60K more than when he was a salaried employee!)

Has anyone got any ideas about how we can perhaps persuade RAMS and CBA to change their mind or have any other ideas about how we can get $100K together quickly? The money only needs to be used until the end of the year and then it will be paid back in full.

Thanks in advance,

Hiya i u are in a strong equity positon and the ABN and GST reg is > 6mths ol u may have a show wht a lo doc

Hi Rolf. Unfortunately our equity position is not strong enough to qualify for a low doc loan. We are now looking at other options. Thanks anyway.