6 - 12 month 2nd Mortgages

OK, so your client wants funds in a hurry, but wants them for longer than a standard short term caveat loan period of 4 months.

A 2nd Mortgage maybe the answer! We do not fund our private 2nd mortgages ourselves, however we generally deal direct with the investor who will fund them, and our rates start from a low 16%pa, and go up as high as 30%pa.... depending on LVR and type of security.

Just like caveat loans, we generally do not need any financials,and bad credit history is ok. If there is enough equity in the security property, we can capitalise the interest for the term of the loan, meaning we don't need to assess serviceability.

LVR Limits are currently at 75% for residential, and lower for residential land, commercial, etc., and all loans MUST be for business purposes.

Now it's time to COMPARE 2nd mortgages to short term caveat loans.