2nd Mortgage
At a glance
- Up to 75% LVR, calculated on top of your existing first mortgage balance
- Fast turnaround, since there's no need to unwind an existing facility
- Flexible terms, set around how and when the funds will be repaid
- Sits behind your existing first mortgage
- Suited to business capital, tax debt or project funding
Common business uses
- Inject working capital during a slow trading period or a seasonal gap in cash flow
- Fund a specific contract, project or piece of equipment where the return arrives later than the cost
- Cover GST or other tax obligations without pulling cash out of day to day operations
- Consolidate higher cost business debts into a single, more manageable facility
- Free up equity for growth without touching a first mortgage that's already working well
Why borrowers choose us
No need to refinance
Your existing first mortgage stays exactly as it is, rate included, while the second mortgage covers what you need right now.
Fast decisions
Second mortgages are usually needed on a deadline, whether that's a contract, a tax office notice or a time limited opportunity, so we move at the pace the situation calls for.
Terms built around you
Repayments are structured to match your cash flow rather than fitted to a template that assumes every business runs the same way.
Frequently asked questions
A loan secured against a property that already has a first mortgage on it. It ranks behind the first lender for repayment if the property is sold, which is reflected in the rate and LVR.
Most first mortgage lenders require notice or consent before a second mortgage is registered. We can talk you through what that involves for your situation.
Business capital, debt consolidation, tax liabilities, renovation or project funding. Most legitimate purposes are considered.
The first mortgage is repaid first from sale proceeds, then the second mortgage, with any remainder to you.
