Anyone for Seconds? A scenario for second mortgages

Mark Hutchins

Mark Hutchins

Director - Secured Lending

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.

Check out our Second Mortgage product if you require any more information, or alternatively, contact us at 1300 795 175 or email info@securedlending.com.au

 

second mortgages

Secured Lending

FAST FUNDING SOLUTIONS

Secured Lending focuses on non-conforming, short term funding solutions with incredibly quick turnaround times. So why Secured Lending?
  • We have our own internal property valuation team.
  • We can settle caveats, 1st and 2nd mortgage loans within 24 hours up to $45m.
  • We pride ourselves on being transparent and honest in our approach, always aiming to have an initial assessment back to you in a few hour

Our rates start at 9.95% p.a. with loan terms from 1 – 24 months.

 If you have a scenario to discuss, please call us on 1300 795 175.
TOPICS
Scroll to Top