At a glance
| Position | Second-ranking registered mortgage |
|---|---|
| Loan size | $20,000 to $5,000,000 |
| Existing loan | Stays in place, unchanged |
| Documents | ID, property and first-mortgage details |
| Funding | As little as 24–48 hours |
How second mortgage business loans work
Refinancing your home loan to release equity can take weeks and may mean giving up a good rate. A second mortgage sits behind your existing lender, leaving that loan untouched.
Second mortgages suit larger or slightly longer loans than a caveat, and they're a strong option for consolidating expensive business debts into one repayment.
Who it suits
- Owners with a low-rate first mortgage they want to keep
- Debt consolidation and ATO debt refinance
- Larger amounts with a 6–24 month horizon
- Businesses without current financials
How it works
- Check eligibility60 seconds online, with no credit score impact.
- Talk to a specialistWe confirm the amount, property and exit plan the same day.
- Get a written offerEvery cost set out clearly, often with just a desktop valuation.
- Sign and settleE-sign, we lodge the security, and funds land in as little as 24 hours.
What you'll need
- Photo ID for each borrower and guarantor
- Property address and who owns it
- What's owing on the property (if anything)
- The loan purpose and your exit plan
Not needed: No tax returns, financial statements, BAS or accountant letters.
A medical practice consolidating costly short-term debt
A Sydney dental practice owner had three unsecured online loans draining cash flow every day. We arranged a $380,000 second mortgage over her home, behind her existing low-rate loan, and paid out all three. Her daily repayments stopped and she now makes one monthly payment.
Frequently asked questions
Does my first lender need to approve a second mortgage?
Registering a second mortgage generally involves your first lender's consent. We handle that for you. If consent would take too long, a caveat loan is often a faster alternative.
Is a second mortgage cheaper than an unsecured business loan?
Usually, yes. Property security lowers the lender's risk, so second mortgages are generally priced below unsecured and merchant-style finance, especially for larger amounts.
Can I get a second mortgage with bad credit?
Yes. Equity and a clear exit plan matter more than your credit score.
Does it cost anything to apply?
No. There's no cost to apply or check your eligibility. All costs are set out in writing in your loan offer before you sign anything.
Will checking my eligibility affect my credit score?
No. Our 60-second eligibility check doesn't make a credit enquiry. A credit check is only done later, with your consent, if you decide to proceed.
