Private second mortgages for brokers
A private second mortgage from the lender, not another link in the chain. HomeSec lends its own capital behind your client's existing first mortgage, from $20,000 to $5,000,000, with conditional approval in as little as 15 minutes.
Or call the scenario desk on 1300 93 83 87, Mon–Fri, 8:30am – 5:30pm Melbourne time.
Four clients a private second mortgage is made for
Not every client needs one. These four are the ones where it tends to be the right answer, and the reason is in the structure.
Business owners with equity
Property they already own, a first mortgage already in place and a business need that cannot wait for a bank.
Clients with a thin or damaged file
Defaults, arrears or no trading history. Credit is considered and never disqualifying on its own.
Deals needing a long runway
Interest can be capitalised for up to 6 months, so there are no scheduled repayments at the start.
Directors using their own home
A principal place of residence is accepted as security, for a company, trust or sole trader borrowing for a business purpose.
Private second mortgage terms, in one table
Every line is read from the same source as the product pages, so the numbers here are the numbers everywhere.
| Term | HomeSec |
|---|---|
| Borrower | Companies, trusts and sole traders — including start-ups. |
| Loan amount | $20,000 to $5,000,000. |
| Security | Residential, commercial, rural or vacant land. First or second-ranking mortgage. Cross-collateralisation across multiple properties. Your home can be the security. |
| Maximum LVR | Up to 80% on residential and 70% on commercial. Lower on large acreage, and LVRs may reduce on properties worth less than $800,000. |
| Term | Open, from one month, chosen by the borrower. None — no rollover fees, legal fees or rewriting the loan to extend. |
| Repayments | Interest-only, or interest capitalised for up to 6 months. No daily or weekly direct debits. |
| Paydowns | Ad-hoc paydowns from $10,000, once outside the capitalised-interest period. |
| Early repayment | Anytime, with no penalty. Unused months of capitalised interest are rebated. |
| Valuation | None — we don't use valuers. |
| Financial records | None. No cashflow records, no sworn valuation, no financial records, no minimum trading period. No serviceability test. |
| Credit history | Considered, and never disqualifying on its own — defaults, arrears and thin files do not rule you out. |
| Geography | Almost anywhere in Australia — metro, regional and rural. Towns of 3,000 or more people as a guide; smaller populations on merit. |
| Time to funds | Conditional approval in as little as 15 minutes and funds in as little as 24 hours from a clean, complete scenario. |
The business-owner page is second mortgages. For speed, see fast second mortgages for brokers.
A client with equity and a business need?
Send the scenario. Seven details get you an indicative answer, usually in minutes.
Price it with your brokerage
Enter your brokerage as a percentage or a dollar amount and see what the client receives.
Open the calculator → Partner with usReferral partner or broker partner
Two ways to come on board. Pick the programme that suits how you work.
Partner with us →Lodge a scenario or apply to partner
Lodge and track files in the HomeSec portal at app.homesec.com.au.
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 private second mortgages
What is a private second mortgage?
How much can a private second mortgage borrow?
Is a private second mortgage faster than a first mortgage?
What does it cost the client?
How is my brokerage added?
Can my client's home be the security?
Approval and funding times are from a clean, complete scenario. Loan terms, extensions and pricing are subject to approval and the loan documents.