Thanks in advance for any constructive advice.
I won't go into the history but one way and another we have survived the last 5 years, a year ago we just scraped through to refinance away from an 8.95% floating rate to a main stream bank so now we have a new lease on life.
To refinance, it took all the assets we had as security,as of early this year a sub-division of a block of land held as security was completed and as a result the value doubled, we contacted the bank to apply to have some of the sections released, after jumping through the hoops the bank has offered to lend us more $$$ but will not release any sections unless we can present proof of an offer to buy a section or a sale and purchase agreement.
Although the $$ would do a lot of good we would much rather have the sections released from the mortgage.
What are our options?