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Second Registered Mortgage

Pacific 8 is a leading choice for second mortgages in Australia. We are ready to help you secure additional funds by utilising the equity in your property.

WHAT ARE SECOND MORTGAGES?

Second mortgages are security instruments taking place behind a first mortgage and registered against a property’s title. They deliver a rapid injection of funds when the slow process of the banks just won’t cut it, leaving them popular in business loans to leverage equity that hasn’t been tapped yet. 

As many know, gaining approval for business loans from major banks can be challenging due to their stringent loan policies and extensive documentation requirements. With separate, private lenders, a 2nd mortgage can be more straightforward and easier to set up, all the while still offering competitive interest rates.

Enter the professional, AFS-licensed team from Pacific 8, providing:

  • Loan amounts between $300,000 and $25,000,000
  • Custom interest rates and financial solutions to support your venture
  • Loan terms from 3 months to 2 years.
  • Maximum Loan to Valuation Ratio (LVR) of 75% of the mortgaged property value

WHO CAN BENEFIT FROM WORKING WITH SECOND MORTGAGE LENDERS?

Various types of businesses utilise products offered by second mortgage lenders for different reasons, including:

  • Start-up businesses lacking sufficient income proof to demonstrate loan repayment capability.
  • Businesses that cannot verify income at the time of the loan application.
  • Businesses in urgent need of funds, especially when banks are unable to provide the required capital promptly.
  • Businesses that fail to meet the rigorous criteria set by banks, which might include issues like credit problems or bad debts.
Recent Funded second Registered Mortgage

Loan Amount:

$600,000

Security:

Newcastle Commercial Property

Valuation

$3,000,000

LVR:

68%

Term:

6mths

FIND OUT MORE ON OUR 2ND REGISTERED MORTGAGES AVAILABLE AT PACIFIC 8

Talk with our specialists at Pacific 8 to learn more about second mortgages, or submit an application form today.
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Frequently Asked Questions

Loans are assessed immediately, and if everything is in order, we can settle within three days. If you were with a bank, it would take weeks to get your loan looked at.

Obtaining a short-term second mortgage often involves turning to private lenders as an alternative to traditional banking. In this approach, you secure funding from a non-bank entity like Pacific 8 through a mutually agreed upon contract.

Both parties, the borrower and the lender, are bound by the specifics outlined in the private loan agreement, which includes details like the repayment timeline and interest rates.

Whether refinancing is more advantageous than obtaining a second mortgage varies based on personal circumstances.

Refinancing through a bank can be challenging if you possess limited equity or a poor credit score. Moreover, a declined refinancing application due to a bad credit rating can further deteriorate your credit score, creating a challenging cycle from which to escape. Private lending offers a potential solution to overcome these hurdles.

A caveat loan relies on the equity within your property for security. When a caveat is established, it prevents the property from being pledged as collateral for any other financial arrangement.

Conversely, a second mortgage involves registering an additional interest on the title of a property with a primary lender’s security interest.