Second Mortgages & 2nd Mortgages
The Second Mortgage Specialists
Universal Finance are specialists in Second Mortgages and can offer Registered 2nd mortgages from 0.999% per month. Don't pay the high interest rates and excessive fees (including upfront fees) that other lenders have on offer. We have the lowest interest rates and fees on Second Mortgages in Australia guaranteed.
- Interest rates from 0.999% per month
- 5-7 year loan term options available
- LVR's up to 80%
- Loan amounts from $1000 to $25,000,000 available
- Fastest settlements in Australia
- Unlimited defaults and arrears acceptable
- Australia's choice for 2nd mortgages since 1999
- Deal direct with the source of funds (cut out the middle men) and save time and money in the process
- No upfront fees payable (**Be highly cautious of lenders asking for upfront fees in the market**)
- We can lend Australia Wide
- Real estate security required**
- Specialists in Private 1st and 2nd mortgages
- Fund business capital for your business fast with a 2nd mortgage
- No LMI
- No exit fees
- No credit checks
- No financials or tax returns to verify income
- No valuation fees
Universal Finance has you covered
Universal Finance has direct relationships and access to over 1000 private investors/private lenders to facilitate Second Mortgages fast! Deal direct with the lender and save time and money in the process.
2nd Mortgages are a great alternative to mainstream lending. So if you have been turned away by the banks or other lenders for any reason call Universal Finance today! Universal Finance have been the leaders in providing alternate finance options to the banks and other mainstream lenders since 1999. From Second Mortgages and Home Loans to Private Funding, Universal Finance has you covered.
Universal Finance settle second mortgages upon registration of a caveat, allowing very fast settlement generally within 24-48 hours. Unlike other lenders Universal Finance will settle your 2nd mortgage upon registration of a caveat and then move to register the second mortgage following settlement. This allows you to obtain very fast funding but at 2nd mortgage rates.
Universal Finance can also assist you with the refinance of your 2nd mortgage facility, at the lowest interest rates. Our experienced consultants will assist you in structuring your second mortgage or caveat loan facility so that you can then exit this loan by way of refinance, lowering interest repayments in the process. As we are specialists in second mortgage finance you can rest easy knowing your finances are in the right hands.
Frequently asked questions
What is a second mortgage loan?
A second mortgage is a type of secured loan on your property. It’s a mortgage that’s registered on top of your existing mortgage, although you don’t have to use the same lender for a second mortgage loan. The equity in your property is used to secure the loan, which often allows you to borrow more than you can through a personal loan, and the interest rates tend to be low.
How do second mortgage loans work?
Second mortgages are secured against your property, but they don’t affect your original mortgage. If you’ve built up equity in your home, you can apply for a second mortgage loan, which can be an affordable way to borrow money. However, it can be tricky to get a second mortgage, because it’s seen by lenders as a higher risk than your first one, so Universal Finance have put together a panel of lenders who offer these sorts of products. This allows you to find a lender that caters to your needs.
What are second mortgage loan requirements?
There is usually a maximum LTV (loan to value) amount that can be borrowed against your property. This means that when both mortgages are added together, they need to be less than 85% of the value of your property. This is because lenders don’t want you to be overstretched and borrow too much against your home. Universal Finance don’t require credit checks, financials or tax returns, as your property is the collateral for the loan, you just fill in our simple application and we’ll tell you what paperwork we need.
What’s the minimum deposit for a second mortgage?
You don’t need to raise a deposit or down payment to take out a second mortgage loan on your property, as you will have already put this down for your first mortgage. If you use Universal Finance to find a second mortgage, we don’t ask for any upfront fees either, and you should be wary of any lender who asks for a deposit or cash upfront for this kind of product.
Is it difficult to get second mortgage for second home?
Second mortgages can often be taken out on second homes, provided you have enough equity to borrow against. If you have the expense of more than one property, you should make sure you aren’t too financially stretched by taking on a second mortgage, and that the repayments are affordable. Taking out a second mortgage loan on a second home can be an excellent way to access money when you need it, and you can still enjoy low interest rates.
What’s the maximum I can borrow with a second mortgage?
The amount you can borrow for your second mortgage will depend on the current value of your property and how much of your first mortgage you’ve already paid off. In general, lenders won’t want the first and second mortgage combined to take you over 85% of the home’s value, otherwise, it becomes a risky investment for them and can leave you overstretched.
Call Universal Finance today for more information regarding Second Mortgages!
PHONE: (03) 9088 8369
Adelaide Head Office Address: Suite 1/40 North East Road, Walkerville SA 5081
Melbourne Office address: Level 40, 140 William Street, Melbourne CBD 3000
Sydney Office address: Level 57 (MLC Centre) 19-29 Martin Place, Sydney CBD 2000 (by appointment only)