As a mortgage broker, I have a suggestion for small businesses who are not getting much joy from their Bank, and have their house mortgaged to the Bank as security for the business lending.

BNZ (who do not deal with us "vermin" the brokers) are doing some ridiculous lending at the moment, now that they have brought out their 4.99% housing rate. So I suggest you call up a BNZ Mobile Manager, and ask him to refinance all your lending into one home loan. Give him your March 2008 financial accounts and the most recent GV on the property, and a printout on your loans showing you have been meeting the repayments.

The key is to treat this as a home loan, and not any business refinance. So if you have a business overdraft at the moment, you will need to incorporate the debt into the loan amount, and operate your business accounts in credit without any overdraft limit. This is a great chance to roll all the debts together into one loan at 4.99% and also release some working capital for the business.

You may also be able to get more than 80% of the value of your home, although the interest rate may then be a little higher.