First mortgage · no valuation

First mortgage business loans with no valuation

HomeSec writes first mortgage business loans with no valuation, financials or bank statements, either over property you own outright or by paying out your current lender. We lend $20,000 to $5,000,000, up to 80% of a residential property's value or 70% of a commercial one, with funding possible in as little as 24 hours from a clean, complete scenario.

A double-fronted brick house with an established front garden, photographed from the street

See if you qualify in sixty seconds. No credit check to apply, no financials, no payments for the first six months. That's the HomeSec Advantage.

See if you qualify

On most first mortgages the valuation is the longest wait you can see coming: order it, book the inspection, wait for the report, then wait for the lender to accept it. Ours skips all of it. That is part of what makes HomeSec business loans so fast and so flexible, with up to 6 months no payments and a term you set yourself.

Where a first mortgage with no valuation fits

The property is owned outright. Nothing owing means nobody to pay out and nobody to ask. With no valuation as well, this is the most direct loan we write.
The bank has asked you to leave. A bank that has called in a facility or will not renew it still has to be repaid. A first mortgage can repay it, assessed on the property rather than on the trading that worried the bank.
An existing private loan is ending. Another lender's term is up, and its replacement wants a fresh valuation. Ours does not.
The existing loan is small and the need is large. Paying out a small first mortgage and taking first position is often simpler than squeezing a second mortgage behind it.
Buying commercial property, or residential in a company name. Settlement dates do not move for valuers. A first mortgage over the property being bought, or over one you already own, can fund the purchase.

What sets the timetable instead

With no valuer involved, a first mortgage over a property with nothing owing on it is a title search, the loan documents and settlement. Where we are paying out an existing lender, there is one more step: that lender's discharge. Its timing is the outgoing lender's, which is why the first thing worth doing on a refinance is asking your current lender for a payout figure. How to get a mortgage payout figure.

If the existing loan is worth keeping, a second mortgage with no valuation leaves it in place and avoids the discharge entirely.

What we assess, with no valuation and no financials

Four things: the property (you can give us your own estimate of its value, because we assess value ourselves), the equity in it, what the money is for and how the loan is repaid. There is no serviceability test and no minimum trading period, and we do not ask for tax returns, BAS or bank statements. A start-up with a property is assessed the same way as a business that has been trading for a long time.

A person decides every loan

Every application is read by a Lending Manager and every credit decision is signed off by a person. We do not use artificial intelligence to assess, approve, decline or price a loan. An algorithm cannot see why the last two years look the way they do. A person can, and that is the whole reason files we write are ones a scorecard would have rejected.

The documents that get you to conditional approval

Photo ID for everyone on the title.
A council rates notice for the property. How to get a copy.
Your most recent mortgage statement, if there is a loan on it now.

No valuation report, no accountant's letter and no bank statements. The full product detail is on first mortgage business loans.

First mortgages without a valuation

Can I get a first mortgage business loan with no valuation?

Yes. HomeSec writes first mortgages from $20,000 to $5,000,000 without a valuation, and without financials or bank statements. We assess value ourselves and run the title search; the decision rests on the equity, the business purpose and the exit.

If you pay out my bank, does the bank need to value the property?

No. The outgoing lender is being repaid, not lending more, so it has nothing to value. What it does control is the timing of its discharge, which is the one step on a first mortgage refinance that neither you nor we can hurry.

Is a first mortgage cheaper than a second mortgage?

Generally, first position is priced more sharply than second, because the lender is first on the title. Your price is set on your individual circumstances, the property, the amount and the exit, and we aim for the sharpest rate available for your situation.

Can a first mortgage be used to buy property?

We can fund the purchase of a commercial property, in a personal name or a company name, and the purchase of a residential property in a company name. We cannot fund the purchase of a residential property in a personal name: credit for that purpose is regulated consumer credit under the NCCP Act, and HomeSec lends for business and investment purposes only.

How long can a first mortgage run?

As long as you need. The term is open, with no fee to extend and no penalty for repaying early, and interest can be prepaid or added to the loan for up to six months. When a bank refinance is ready, it repays the HomeSec loan.

No valuation, by loan type

No valuation business loans Second mortgage, no valuation Caveat loan, no valuation (Victoria)Equity release, no valuation No doc business loans Do you need financials?

Talk to a Lending Manager

Tell us the property, what is owing on it and the deadline. 1300 93 83 87, Mon–Fri, 8:30am – 5:30pm Melbourne time, or apply online.

Sixty seconds, no documents

See if you qualify in sixty seconds

Three short questions, no credit check to apply and no financial statements. A Lending Manager reads it and calls you back with a real answer — not a call centre, not an algorithm.

That's the HomeSec Advantage.

See if you qualify Call 1300 93 83 87 Mon–Fri, 8:30am – 5:30pm Melbourne time