A second mortgage loan is an increasingly popular method of accessing additional capital. This type of funding allows the lender to register the second interest on an asset that is already secured. It is advantageous to business owners as it expands their financing options, allowing for choices that will suit their financial needs. Second mortgage loans provide the flexibility of refinancing your existing asset with another lender and can meet your short-term needs. Businesses requiring the loan for a short amount of time can repay the loan early and have the second mortgage interest removed.
Generally, a second mortgage is only available to those who have paid back a portion of their home loan. Most people choose to take out a second mortgage against their property because it is a quick loan solution, most suitable for those who require urgent cash.
We have assisted many Australian businesses with millions in funding.
We are dedicated to assisting business owners with their financial needs.
Max Funding serves all industries operating in Australia.
If you’re looking for a second mortgage loan, Max Funding has the solution that is tailored to your business. Max Funding is a premier provider of financing solutions for businesses at different stages, big or small, and Max Funding understands the need for a reputable and reliable second mortgage lender.
Max Funding has funded thousands of small businesses Australia-wide through our easy and straight forward online application process. Even if your property has no equity, we can still consider. Our simple application only takes five minutes to complete - and, best of all, no credit checks are undertaken during this initial process.
Trying to get business funding from commercial banks can be a challenge, especially when you’re just starting out, so it’s better to go to a secondary mortgage lender you can trust. At Max Funding, we see you and your business differently, and we will consider bad credit histories because we focus on your current and future position, rather than something that occurred in the past.
With knowledge and many years of experience in the finance industry, Max Funding has assisted thousands of small and medium-sized enterprises with their financial issues. Apply for second mortgage loans from Max Funding as a borrower or a guarantor - the application process is fast, easy and secured.
You can borrow from $2,000 to $1,000,000. Unlike banks, our repayment schedules can be flexible to fit your business. There are fewer documents required for an application, and you will receive our pre-approval decision in just a few minutes. You can apply anytime, anywhere, and we will inform you by email or SMS.
If you’ve decided our second mortgage finance solution is right for you, start with our short pre-approval form. If this product isn’t right for you, we offer other solutions to assist your business financing needs, such as unsecured business loans.
Our intuitive system will provide you with a pre-approval decision within minutes, any time of the day. After you’ve been pre-approved, upload a few basic documents from your mobile or PC to verify your ownership and personal details. Once verification has been done and the contract is signed, funds can be released to your bank account.
With our fast and efficient process, you’ll never have to worry about finding the right business service provider. You can concentrate on your business needs, whilst our team of professional lenders takes care of your funding needs. If you have any questions, please feel free to contact us directly, and get your second mortgage loan today!
No. A second mortgage loan allows the lender to register the second interest on an asset that is already secured. It provides flexibility in refinancing existing asset with another lender. Whilst, a caveat loan is funding from a lender which is secured against the value of the property’s equity.
A second mortgage allows the lender to register the second interest on an asset that has already been secured. It is ranked behind the first mortgage, meaning the first mortgage will be repaid before the second.
By opting into Max Funding’s second mortgage loan option, you can receive funding as low as $2,000 and as much as $1,000,000, which is flexibility tailored to suit your business’s need.
A second mortgage business loan is faster than a home equity loan and has the benefit of being a tax-deductible for all the costs that are involved in the loan. Home loans on the other hand contain a longer processing time, has less flexibility, and requires more documents which makes it harder for approval due to strict government legislation.
For simplicity and fast processing, a second mortgage is not required when it comes down to low approval or highly mortgage property.
If you request for a higher loan amount, given the property has sufficient equity, a 2nd mortgage backed as security may be necessary for you to apply.
Refinancing often requires much longer processing time and more documents are generally needed to be provided. The approval condition is also stricter.
To fulfill business needs with faster approval, a second mortgage is the better option; especially with the attachment of the tax deduction benefit that does not exist with the refinancing home loan option.
All that required from you is to simply have a property with sufficient equity, registered in the name of the business owner(s).
The speed will be subject to the loan amount and availability of the clients. Here at Max Funding, we value our customer’s time. With us, closing on a second mortgage can be done as quick as just 3 - 5 working days.
Do you have a question that has not been answered above?