10. Home in possession after failed business partnership

A couple mortgaged their home and their investment property with a bank to finance the purchase of a suburban supermarket business, in partnership with relatives.

The business suffered poor trading and partnership disputes leading to the business being closed. The bank subsequently took possession of the couple’s home and investment property.

The couple applied to Eastwood Securities to refinance their bank loan and we were able to pay out the bank with an interest only loan based on the equity in the property and confirmation of restoration of the couple’s income from a return to their former employment.

The couple have now successfully refinanced back to a Bank Loan Package.

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