Many Australians use the equity in their property to fund certain things. This could fund a new business venture, buying a car, purchasing another property or any other worthwhile purpose.

Your equity is the gap between the value of your property and any outstanding loans you may have secured against the property. Lenders will only allow you to access a portion of the equity.

Here is a step-by-step guide to work out your equity, then you can decide what you do with it