Expert in Second Mortgages
The team here at Secured Lending loves an opportunity to break away from the norms of other lenders to differentiate ourselves in the private lending market
Recently we received a scenario from a client who was seeking a number of second mortgages to settle on the purchase of a commercial block on Sussex Street, Sydney. The borrower was relying on the sale of another security to fund the purchase however at the 11th hour, the purchasers finance was delayed leaving the borrower in a tight space.
Secured Lending were able to proceed to settlement by the deadline and provide the borrower with a $4.741M 2nd mortgage facility secured against 3x properties located in Sydney, NSW.
While most lenders may avoid playing in the large second mortgage space, we understand when there is underlying value in securities and are excited to provide clients with the means to access this value to fund their next endeavour.