releasing equity on PPR

Hi
My PPR is currently valued at 350k. I also own land which is valued at 150k. None of these assets have any mortgages on them.

I am currently trying to release equity of 100k on the PPR. I am self employed with profits for last year of 31k (My profits would have been higher had I not spent a significant period working on my PPR with no income being generated).

I am finding it very difficult to get approval for equity release of 100k. AIB will give me 100k assuming I take it as a commercial mortgage(with infavourable rates) - I want to get a home mortgage rather than a commercial mortgage

Can anyone offer any advice? With assets of about 500k I thought releasing 100k would be relatively easy

Rgds

Some lenders are stricter than others about what they will release equity in a PPR for. What is the €100K for?

I take it your age isn't an issue in terms of being too close to retirement? What age are you?

Also - what are your overall circumstances? For example what is your gross/net income from the business? How long have you been self employed? Do you have at least 3 (?) years of audited accounts for the lenders to look at when applying? Have you tried lenders other than just AIB? Have you tried a broker?

Thankyou for your replies, I have contacted a broker who is now helping me out.