I have a PPOR bought at 390k and now valued at 440K. I have outstanding loan of 320k. I was thinking of fixing a part of it and at the same time refinance to get some equity and put it in the offset account for future investments. 80% of 440k is 352k so I should be be able to get 32k. But the lender (a CU) is allowing me to split but saying that they cannot give me the equity as a cash. If in future I buy an investment prop then I can cross-securitise that prop against the equity. Can they do this, i.e. not release the equity as cash for me to do what I wish.