FAQ Category: Second Mortgage

We lend from $20k to $2m, however as these loans need to be secured by real estate, it will depend on how much equity is in the property (or multiple properties combined)

Let’s work out how much equity you have. Start by working out what 75% of your property value is. Then subtract what you owe on your current 1st Mortgage, and the answer is the amount we can lend you. So if your property is worth $1,000,000, x 75% = $750,000. You owe $350,000, which means […]

Refinancing a property is a long and slow process, with an extensive number of documents needed to be provided. A 2nd mortgage on the other hand is a much better option if fast approval is necessary. It also allows for tax benefit deductions which is not permitted if you simply refinance your home loan.

Generally only 2 mortgages on a single property, as most reputable business lenders won’t sit 3rd on a title.

Taking a 2nd mortgage means that you are applying for another loan using the same property as security. This is handy if you already have a 1st mortgage, but you just need a short term top up. It’s faster and easier than refinancing your current 1st mortgage.

 Our minimum loan amount is $20,000, the maximum loan amount is determined by the available equity in your real estate asset.

Any business owner with a registered ABN or ACN can apply for a second mortgage. The purpose of the funds must be for business use and you need sufficient equity in real estate assets to qualify.

Loan terms range from 1 month to 12 months. Interest and fees can be capitalised or you can select a 12 month interest only option.

No, we can provide a second mortgage behind any bank lender.

Yes, credit history is not relevant to our funding, however in some cases we may require any court judgments to be repaid from the loan proceeds.