Second Mortgage Lenders
Credit Solution Group are a Second Mortgage Lender that Provide Financing Solutions to Suit your Specific Needs. Call us or Apply Online Today!
What is a Second Mortgage?
A Second Mortgage is a type of “subordinate” mortgage that is made while a First Mortgage is still in effect. An example of when someone would want a Second Mortgage is a business owner who already has a First Mortgage yet may wish to take out a Second Mortgage to fund an upcoming venture. First Mortgages take precedence over 2nd Mortgages, so in the event of default, the Second Mortgage will receive repayments only when the First Mortgage has been paid off.
What kind of Second Mortgage Lender are we?
As one of Australia’s leading Second Mortgage Lenders, Credit Solutions Group provide Second Mortgages to companies and to individuals who wish to borrow for business purposes. Our loans can be secured against non-rural properties. They can be made available quickly and have flexible terms and conditions, giving you more time and freedom to implement your business strategies.
Credit Solutions Group offer 2nd Mortgages in the following terms:
- Loan range of $50,000 to $500,000
- Loan term of 1 to 3 months
- Interest rates as low as 20.0% per year (paid monthly in advance)
- A low 1% – 3% establishment fee
- Loan-to-value ratio of up to 70%
- Capitalisation within loan-to-value ratio guidelines.
- Joint and several guarantees from:
- Any third party security providers
- Any directors of the borrowing entity
- Any corporate shareholder of the borrowing entity
If you are considering a Second Mortgage in Australia, call us or apply online today.