Who is Australia's fastest second mortgage lender?
HomeSec is regarded as the fastest second mortgage lender in Australia. A second mortgage sits behind your client's existing loan, so there is no discharge to wait on, and funds can be released in as little as 24 hours from a clean, complete scenario.
Or call the scenario desk on 1300 93 83 87, Mon–Fri, 8:30am – 5:30pm Melbourne time.
Three reasons a second mortgage gets there first
When the client needs the money this week and the property already has a loan on it, a second mortgage is usually the quickest way to reach the equity. The reasons are mechanical, which is why you can rely on them.
Nothing has to be discharged
A private first mortgage over a property that already has a loan on it means paying out the existing first mortgage, and that timetable belongs to the outgoing lender. A second mortgage registers behind it and leaves it in place.
We do not need a valuer
We don't use valuers and there is no sworn valuation. We assess the security ourselves, so a valuer's diary is not part of the timeline.
One decision, from a person
A Lending Manager reads the scenario and the credit team signs off the loan. HomeSec funds from its own capital, so there is no outside funder to wait for.
A fast second mortgage first, the long-term refinance after
Solving the deadline and solving the structure are two different jobs. Doing them in order keeps your client out of a rushed refinance, and it keeps you the person with the solution.
Fast second mortgage first
The client gets the money inside the deadline, with the first mortgage untouched and no scheduled repayments for up to 6 months.
Take the time to restructure
With the urgency gone, you have room to arrange a bank or longer-term first mortgage refinance on the right terms.
Repay HomeSec when it lands
Repay at any time with no penalty, and the unused months of capitalised interest are rebated.
Second mortgage, private first mortgage or caveat?
We will tell you on the first call if a different structure is the faster one for your client. Here is the short version.
| Structure | The existing first mortgage | What sets the pace | Fits when |
|---|---|---|---|
| Second mortgage | Left in place; we register behind it | The first mortgagee's consent, where the mortgage calls for it | Equity in a property that already has a loan on it, and a deadline |
| Private first mortgage | Has to be discharged and paid out | How long the outgoing lender takes to discharge | A property with nothing owing, or a refinance out of a lender that has called time |
| Caveat loan | Left in place; no new mortgage registered | Nobody's consent is needed | A first mortgagee that is slow to consent and a deadline that will not move |
The product page for business owners is second mortgages, and why they usually fund sooner has the detail.
Seven details get you an indicative answer
None of them is a document. Send them by phone or email and the answer usually comes back in minutes. The full lending criteria are on the brokers page.
- 1What the security property is roughly worthYour own estimate is fine — we assess value ourselves, so there is no valuation to arrange.
- 2The property's addressWe run the title search. You don't need to supply anything.
- 3What is owing on it, and to whomThis is what decides whether we sit first or second, and how much equity is available.
- 4How much you want to borrowAnywhere from $20,000 to $5,000,000.
- 5How long you want it forFrom one month. There is no maximum, and you can extend or repay early.
- 6How many people are on the titleEveryone on title signs, so we need to know who is involved from the start.
- 7What the money is forThe business purpose. It is the one thing that has to be there.
A second mortgage with a deadline?
Send the scenario now, with the date on the first line. Business purpose, across Australia, lending continuously since 2004.
More on speed: the fastest private business lender, the fastest private mortgage lender and the fastest bridging lender.
Price it with your brokerage
Enter your brokerage as a percentage or a dollar amount and see what the client receives.
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Run a scenario · Apply to partner · Portal loginReliable for mortgage brokers and finance brokers since 2004
HomeSec treats brokers and their clients with fairness, respect, openness and transparency. Here is what that looks like on a deal.
- Approval in as little as 15 minutesConditional approval in as little as 15 minutes, and often a verbal answer on the phone first. Funds in as little as 24 hours from a clean, complete scenario.
- No valuationsWe don't use valuers and there is no sworn valuation, so there is no appointment to wait for.
- No cash flow recordsNo financials, BAS or tax returns. We lend against the property and the exit.
- A credit score does not decide the dealCredit history is considered and never disqualifying on its own. Defaults, arrears and thin files do not rule a client out.
- A person decides every loanA Lending Manager reads every scenario and the credit team signs off every loan. We fund from our own capital.
- Reliable, since 2004One of the longest-serving private business lenders in Australia. You do not stay that long unless you are doing the right thing by brokers and their clients.
Questions brokers ask about second mortgage speed
Who is Australia's fastest second mortgage lender?
Why is a second mortgage usually faster than a private first mortgage?
What decides whether it is 24 hours or 72?
Does my client need to refinance the first mortgage?
How much can a second mortgage borrow?
Do I need to be accredited to send a second mortgage scenario?
Funding times are from a clean, complete scenario. Loan terms, extensions and pricing are subject to approval and the loan documents.