When a second mortgage is the right tool
- —You need additional capital and don't want to break a low-rate first mortgage to get it.
- —The first mortgagee is a major bank that won't move fast enough — supplementary capital is needed now, not in eight weeks.
- —You're funding a specific business need (project cost overrun, working capital, ATO debt, acquisition deposit) and the property has equity sitting in it.
- —The first mortgagee will provide consent to a registered second.
How we structure second mortgages
| Loan size | From $100,000 upward |
| Term | 1 to 24 months |
| Total LVR (1st + 2nd combined) | Up to around 75% of as-is value (case-by-case) |
| Borrower | Pty Ltd, corporate trustee, partnership, or other entity |
| Security | Registered second mortgage with first mortgagee’s consent |
| Settlement | 5–10 business days subject to first mortgagee consent timing |
| Pricing | Set by the panel lender or private investor on each deal |
First mortgagee consent is often the rate-limiting step. We run the first-mortgagee consent process in parallel with the funder's credit assessment to compress settlement time.
What we need
- —Same as a first mortgage, plus the existing first mortgage details (lender, balance, repayment status).
- —The framework for written consent from the first mortgagee. We can draft the request letter if helpful.
Frequently asked questions
- Can I get a second mortgage if I have a major bank first?
- Yes. We arrange second mortgages behind major bank first mortgagees, subject to the first mortgagee’s written consent.
- Does the first mortgagee need to consent?
- Yes. A registered second mortgage requires written consent from the existing first mortgagee. We run this process in parallel with the funder’s credit assessment.
- How is a second mortgage different from a caveat loan?
- A second mortgage is a registered interest over the title; a caveat is an unregistered claim. We only arrange registered first and second mortgages — not caveat-only loans.
- Can I get a second mortgage on a commercial property?
- Yes. Second mortgages can be arranged against residential investment, commercial, industrial, and mixed-use property.
- What’s the maximum LVR on a second mortgage?
- Combined first + second LVR is typically up to around 75% of as-is value, assessed case by case by the panel lender or private investor.