Second Mortgages
Fast approvals
Competitive rates

Second mortgages are sometimes required by borrowers when they require funds quickly or additional funds that their existing lender is unwilling to provide.

Alternatively, there are times when the existing mortgage is secured at a competitive rate and the borrower needs additional funds for business purposes; with a second mortgage offering a cheaper option than refinancing the entire facility.

In recent years the Global Financial Crisis put a squeeze on loan to value ratios (‘LVR’), particularly for commercial properties and specialised securities, such as service stations.

The borrowers may have sufficient income to service the existing debt, but the lenders have been asking them to invest additional equity to lower the LVR.

In cases where there is no additional equity or collateral security available, the borrower either has to sell the property, or raise additional funds via a second mortgage on to lower the senior lender’s LVR.

Second mortgages can be structured to assist investors to acquire properties for either investment purposes or where “value-add” opportunities are available.

    GCC can offer second mortgages up to 80% LVR with very competitive pricing.

      Are you looking at buying a property or refinance an existing loan? Do you need construction finance for a property development? For a confidential chat call:

      1300 011 211

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