Second Mortgages
Tap into equity.
Second Mortgages enable clients to utilise their principal place of residence, commercial or investment properties to access the equity via a second mortgage. Second mortgages are registered mortgages that sit behind the first. Why utilise a second mortgage:
- The current mortgage provider is unwilling to increase their current facility
- The current mortgage provider is taking to long to review and increase the current facility
- Require funds for a short period of time. A second mortgage facility with a private lender is quick and efficient, helping achieve short term objectives.
By taking out a second mortgage, your clients will be able to consolidate debts, finance property improvements or purchase an investment property. It’s a smart way to tap into equity and obtain cash. NWC Finance key features for Second Mortgages are:
- Flexible terms of 1 to 6 months
- Interest rates from 1% pcm
- Loans up to $50 million
- Secured by first or second mortgages
- Up to 75% LVR
- Settlement from 24-48 hours
- Security acceptable Australia wide
RECENT SCENARIO
$1.5m Second Mortgage
Product Guide
1st Mortgages
- > Loans from $50k to $50m
- > Up to 70% LVR Maximum
- > Interest from 1% per Month
2nd Mortgages
- > Loans from $50k to $50m
- > Up to 70% LVR Maximum
- > Interest from 1% per Month
Cash Advance
- > Loans from $50k to $50m
- > Up to 60% LVR on wholesale value
- > Interest from 1% per Month
Plant & Equipment
- > Loans from $50k to $50m
- > Up to 70% LVR Maximum
- > Interest from 1% per Month
Minimum Term of 30 days – Maximum Term of 6 Months with roll-over – Interest can be capitalised within LVR guidelines – All Australian locations considered for 1st and 2nd mortgages and Plant and Equipment security
Let’s talk
To learn more about our immediate finance and short term funding solutions, please contact us on 02 9223 7181 or email us at info@nwcfinance.com.au.