Quick Snapshot:
- Client:, QLD-based developer trading since 2019
- Loan Type: Second mortgage bridging loan
- Loan Amount: $300,000 cash out + capped interest and costs
- Security: Residential property, Rangeville QLD 4350
- Valuation & Mortgage: $2.4M property with a $970K first mortgage
- Purpose: Working capital for development planning (engineering, town planning)
- Exit Strategy: Repayment on property sale within 2–3 months
- Turnaround Time: 4 business days from enquiry to settlement
The Problem: Working Capital Needed, But Property Still on the Market
Here’s a scenario you don’t often see wrapped up in less than a week.
The Borrower, a seasoned Queensland-based developer with a single director, reached out for urgent funding. They needed $300,000 in working capital to cover the early costs—engineering reports, town planning approvals and the like—for their next development project.
The issue? The capital was tied up in a property that was already on the market, with a $970,000 first mortgage and listed for offers above $2.35 million. The property, located at 75–79 Tourist Road in Rangeville QLD, had strong equity, but no immediate buyer. A classic case of being asset-rich and cash-poor, at least temporarily.
They weren’t looking for a long-term loan. Just something short and sharp to tide them over until the sale settled in a few months.
The Solution: Second Mortgage Bridging Loan on a Clear Exit Strategy
At Secured Lending, we specialise in these kinds of short-term situations. We proposed a second mortgage bridging loan, secured against the Rangeville property, to unlock $300,000 in cash upfront.
Our approach focused on three things:
- Speed – The client couldn’t afford to wait weeks for a bank loan.
- Equity – There was clear, provable equity in the property.
- Exit – The property was on the market, and the client had a genuine plan to repay upon sale.
We confirmed the valuation, verified the mortgage position, and worked with the client to cap interest and fees upfront so there were no surprises down the track. From our first call to disbursing the funds, the entire deal was done in four business days.
Why This Worked: A Strong Security and a Sensible Repayment Plan
The Rangeville property is a standout. Listed for over $2.35M, sitting on nearly 3,000m² of land, and attracting strong buyer interest, the asset was more than sufficient to secure the $300,000 loan—even with an existing first mortgage in place.
When we looked at the figures:
- First mortgage: $970,000
- Requested loan: $300,000
- Total secured lending: $1,270,000
- Valuation: $2,400,000 (with agent estimates closer to $2.5M+)
The numbers stacked up. More importantly, the client had a clearly defined and realistic plan to exit the loan: settle the debt as soon as the property sold.
From a risk and underwriting perspective, this was a textbook second mortgage bridging loan.
So, What’s the Real Value Here?
Working capital, at the right time, can be the difference between pushing a project forward or getting stuck in a holding pattern. In Borrowers case, that $300,000 wasn’t just cash—it was momentum.
With funds in hand, they could proceed with planning approvals and technical reports for their next development. No delays, no missed milestones.
And for us? It’s a perfect example of how caveat loans, bridging finance, and second mortgages—when used properly—can solve real problems quickly and responsibly.
Need fast access to capital using property you already own?
At Secured Lending, we specialise in short-term business loans backed by real property. Whether you’re in the middle of a property transaction, managing seasonal cashflow, or simply waiting for a settlement to come through, we can help.
Wondering how fast can I get a second mortgage loan settled when I have a property on the market? It could be just a few days.
Reach out to us and see how we can support your next move.
