NO NEED TO GO ELSEWHERE FOR A NON BANK SECOND MORTGAGE IN NZ
A second mortgage can be the right solution for many different situations. You may be considering using your equity in your home with a second mortgage to cover bad credit or tax issues, business needs, consolidating your debts, or urgent personal expenses such as medical, a funeral, replacing a car, or another unplanned expense.
How can a second mortgage lenders help you?
A second mortgage lender can help you with a home equity loan for buying new or existing residential or commercial properties or, as collateral security if you need additional funds for another project or to help the family raise finance. This is when you need a specialist finance team on your side to help.
How does a second mortgage lender operate?
A second mortgage is registered behind your primary mortgage and can be a way to access your home equity. Banks & Non Banks will usually require a full application and income verification with credit checks when requesting a top up mortgage or home equity line using the existing mortgage you have on your home. If your application is outside your Bank’s lending guidelines after all the changes in assessing your income and personal expenses, you have to look at other options. Non Bank lenders may provide a solution to release a lump sum using the equity in your home. Interest rates are usually higher than a first mortgage, with a shorter term and monthly repayments.
A second mortgage equity loan can provide the funds so you can do what you want to do, whether it is for personal, business, property, or investment purposes.
We have great relationships with a large number of Non Bank lenders, giving us more scope to help you with a solution and second mortgage lenders can often be easier to deal with than your Bank.
How we can help you?
If you are starting a new business and have costs such as vehicles, equipment, stock, and working capital, a second mortgage can help with these initial business expenses. An existing business may require funds for new equipment or extra materials for a large one off order or payments to IRD.
Need a second mortgage to consolidate debt? This is a reality of many financial situations, as it is so easy to get additional loans and credit cards once you own a home. Many recent factions such as Covid have meant many people are needing cash solutions fast - we are here to help you out.