Second Mortgage

You can use a second mortgage to free up cash if you already have property equity.
No impact on your credit score

Use Home Equity for Investment & Overheads

A second mortgage is taken out against your current property – in addition to your current mortgage. When you apply for second mortgages, it means you’re applying for a home equity loan. You can use a 2nd mortgage to improve, add, or grow your business as long as you have a property to borrow against.

A Second Mortgage Can Improve Your Business

A second mortgage loan is taken out for a variety of reasons. These can include:

debt consolidation loan

Debt consolidation

Use equity in your home to pay down credit card debts.

Business Loans

Business improvements and renovations

Make additions, remodel or just make necessary fixes.

Purchase another business

Purchase another business

Use equity from your current mortgage to purchase a second investment.

Low credit score loans looking to your financial future

Borrow From Equity in your Property

A second mortgage works more like a line of credit than a secondary loan. Whether you own commercial property or residential property, this process works the same. The money in your loan comes from the equity you already have in your property. That means you’re borrowing against the equity your property has.

Second mortgage loans are not meant for small purchases or expenses. You should only consider this finance option when you have ample equity and you have a big purchase.
Interest rates on these types of loans are typically higher than a mortgage, but the team at Australian Lending Centre can help locate competitive, affordable rates within our range of banks and private lenders.

Please contact our team today to discuss the value we can add to your business.

Bad Credit Gets A Friendly Response

When you’re starting a business and you have bad credit, it can make things a lot harder. We work with you to try and qualify you for a bad credit second mortgage. We look at other borrowing factors other than your credit file to try and get you the money you need to keep your business going.

If you need financial support, the friendly team at Australian Lending Centre can give you the information you need to see if one of our options will work for you. Contact us today by calling 1300 138 188 or Apply Now!

Low credit score loans
At Australian Lending Centre we care about your future, not your past

Pros and Cons of a Second Mortgage

The Pros

  • Loan amount: borrowing a larger loan amount against the security of your home.
  • Interest rates: most second mortgages have lower interest rates than other loans
  • Tax benefits: with the help of your tax preparer, you may get a deduction for interest paid on this kind of loan.

The Cons

  • Risk of foreclosure: if you stop making payments.
  • Costs associated: credit checks, appraisals, origination fees, etc,
  • Interest cost: if it’s higher than your first mortgage loan

Get Started with a Second Mortgage

Get Started with a 2nd Mortgage

Let the financial experts at Australian Lending Centre help you get started on your second mortgage. See the difference an expert in the lending industry makes, call us today.
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Don’t let a rejection from a bank stop you from thinking you can qualify for a second mortgage. Even if you have bad credit, our loans team will help.
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