Question
How can I access a portion of the $750k equity I have in my $1.4m home to resolve $30k in debt? The bank won't lend more as my income hasn't increased
I'm self-employed, business is strong and expect to have a great financial year with the recent launch of a second businesss. I have a slightly damaged credit score due to a judgment debt which has been settled. How can I resolve my situation to eliminate debt?
Answer
Talk to a mortgage specialist and borrow from a private lender, the interest rate will be more then the bank rate, but less then the rates on your unsecured credit.
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