Sometimes it is not convenient to get to your Bank for a short term Second Mortgage, or you have already been there and they said “sorry your loan application has been declined due to insufficient income or bad credit. At times your income is on a casual or contract basis and this can also be outside the lending guidelines of your Bank.
Often we find that clients like the opportunity to ask questions online using our enquiry form, which allows them to find out information by email from the privacy of their own home or whilst at work. We can also often answer second mortgage questions after hours or at weekends, so you do not have to have time off work.
A common question is how much can be borrowed on a second mortgage and we have now done several over $100,000 and one over $1.7M! These were all to clients who had good equity in property, but their Bank would not assist.
We are fortunate to have accreditation with a large number of non bank loan providers and this allows us to look for other ways to assist you, even if you have missed some repayments and need help with a loan with payment arrears or bad credit. Our lenders prefer to process loans in excess of $10,000 and will always require some security. Unsecured personal loans, especially for debt consolidation or with bad credit are not available through our Lenders, you will always have to find some security.The most common security is a second mortgage or caveat, on either your own home or the property of a guarantor.
Are you looking to consolidate debts, purchase a car, go on a holiday, get married, pay funeral costs or a gift to help out family members? May be you have missed some mortgage payments and you are in arrears and you just need a short term loan to catch up. We can often assist in these circumstances and as security the lender will require a second mortgage or caveat on a home, either your own, or say a family member, in some instances security over a late model car, a boat or business assets will also be required.
Loan amounts available are typically $10,000.00 to $300,000.00. It is important that you have a regular income to make sure you can meet your repayments on time and security will be required. Another option may be to add the interest to the loan for a short term. If you are using a Guarantor they must also be fully aware of what they are doing as they are putting their assets at risk for you. If in doubt a Guarantor should always ask advice from a solictor first.
If you are experiencing financial pressure we can quickly work out if you can free up some cash by combining your existing credit cards, car loan and maybe some unpaid bills into one loan. You can then have just one payment which can be due on the day that you are paid, weekly, fortnightly or monthly. This will make budgeting so much easier and help you get on top of things, so you do not get further behind, which will then lead to bad credit problems. Our advice is always to try and pay off a Second Mortgage or Caveat loan as quickly as possible. If you get any overtime, or a bonus, try and pay this into your loan rather than frittering it away.
Complete our on line Enquiry Form for a NonBank Second Mortgage or caveat Loan loan now. We will be in touch very soon.
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