Private Loan Expiring? Refinance With an Urgent Short Term Loan
Pay out your current lender before default interest and fees increase, and finish the sale or refinance that was meant to repay the loan
Experts in strategic, short-term finance
A property sale or bank refinance that runs late can leave a private loan at its maturity date before the money to repay it arrives. If your caveat loan, second mortgage or bridging loan is about to expire, or already has, and your lender will not extend it, we can refinance it in as little as 24 hours.
We refinance loans from other private and non-bank lenders across Australia, from $250,000 to $10 million, for 1 to 24 months. The new term gives you time to finish the sale, refinance or project that was meant to repay the original loan. We refinance loans used for business or investment purposes only, and we ask you to confirm the purpose in writing.
Signs a refinance is needed now
- •The maturity date is weeks away, and the sale or refinance will not be finished in time
- •Your lender has refused an extension, or offered one on terms you cannot accept
- •Default interest has started to apply
- •You have received a default notice or a letter of demand
- •The lender has said it will take possession or appoint a receiver
What the payout figure includes
Your current lender sets the payout figure under your loan contract. It usually includes the loan balance, interest to the day of settlement, any default interest and fees, and the lender's costs. Ask for it in writing as soon as you call us, because we lend on that figure, and the lender's discharge timing often decides the settlement date.
Default notices
Before a lender can sell a mortgaged property, it must usually give you a default notice and time to fix the default. In Queensland, the Property Law Act requires the notice to give 30 days. Other states have their own rules, so ask your solicitor to check the notice. Aim to settle the refinance before the period in the notice ends.
From call to payout
Call. Send the loan contract, the payout figure and the maturity date. We send indicative terms within hours.
Valuation. Our valuers inspect the property that will secure the new loan.
Letter of offer. The letter of offer follows as soon as you accept.
Payout. We pay out your current lender at settlement, within 24 hours of signing, subject to its discharge process.
Paperwork for a refinance
- •Your current loan contract and any extension letters
- •The lender's written payout figure
- •Any default notice or letter of demand
- •Evidence of your repayment plan, such as a sale contract or a bank approval
Loans that can refinance a private lender
- •Second mortgage: to refinance an expiring second mortgage behind your bank loan
- •First mortgage: to pay out both a first and a second mortgage in one loan, within 70%
- •Caveat loans: the quickest option when the maturity date is days away
- •Bridging loans: where a property already listed for sale will repay us
Refinance loan terms
| Loan feature | Detail |
|---|---|
| Loan size | $250,000 to $10,000,000 |
| Interest rate | From 9.7% p.a. on a first mortgage, from 11.95% p.a. on a second mortgage |
| Term | 1 to 24 months, interest only |
| Maximum LVR | 70% of the property value, including any loan that stays in place |
| Security | A first or second mortgage, or a caveat, over residential, commercial or industrial property |
| Settlement | From 24 hours |
Finishing the original plan
Our loan is repaid the way the original loan was meant to be: from the property sale, the bank refinance or the sale of the completed project. We set the new term with enough room for that plan to finish, and agree it with you before settlement.
Private loan payouts and extensions
“When a private loan is about to expire, the borrower usually still has a sound plan that is running late. The risk is that default interest and costs grow while the plan finishes. We pay out the existing lender and set a term that runs past the revised settlement date, so the borrower can complete the sale or refinance without default interest adding up.”
Gino Tabila
Associate Director
Frequently Asked Questions
Get an indicative offer within hours, not weeks.
No credit check. No obligation.
Why Secured Lending?
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Case Studies
$400K Second Mortgage Repaid in Full After a Flexible Two-Month Extension
$1.8M First Mortgage Releases $980K of Working Capital for a Solar Business
$2.3M Second Mortgage Refinances an 18% Facility for a Glass Manufacturer
$800K Bridging Finance for Simultaneous Property Transactions in 48 Hours
$300K Second Mortgage for Dental Practice Working Capital in 5 Days
$700K Working Capital for a Technology Start-Up Settled in 72 Hours
$3M Working Capital for IT Business Expansion Settled in 2 Business Days
$1.9M Commercial Property Acquisition for Growing Doggy Daycare Business
Get an indicative offer within hours, not weeks.
No credit check. No obligation.
Why Secured Lending?
Are you a broker? Find out why brokers love working with us.
Other Urgent Loans We Fund
Each page covers one deadline: what we fund, what to send us and how quickly we can settle.