When timing is tight, a second mortgage loan for Default remediation can clear arrears, restore compliance, and stabilise your position without disturbing your first facility. At Secured Lending, we’ve advised and assisted borrowers with this Default remediation and have facilitated over 200 strategic second mortgages. If you need to move fast, you can Assess your scenario today. We can proceed to same day settlement once documents and first mortgagee consent are in place.
What a Second Mortgage Solves
A second mortgage is a new facility secured behind your existing mortgage over the same property. For Default remediation, it provides targeted, short-term funding to:
- Pay arrears and default interest to reinstate your account.
- Reduce balance or LVR to meet covenants and restore compliance.
- Replenish interest reserves so payments run on time.
- Clear ATO, council rates, or supplier arrears blocking refinance.
- Bridge timing to asset sale or refinance completion.
Why This Path Works
- Speed when the issue is urgent or an emergency: funding within 24 hours is possible once conditions are met.
- Protects the primary facility by fixing the problem without refinancing it.
- Preserves reputation and banking relationships by curing defaults quickly.
- Keeps projects moving to practical completion, settlement, or refinance.
- Gives outcome control: align term to your exit and cash flow.
- Transparent pricing with options including an interest rate of 11.95%, subject to assessment.
- Flexibility to capitalise interest to preserve working capital.
- A strategic alternative to equity dilution or distressed sales.
When to Consider a Second Mortgage for Default Remediation
- You’re days from an urgent settlement; your refinance needs more time.
- A covenant breach or arrears notice needs immediate rectification.
- Construction or fit-out overrun requires funds to reach completion.
- ATO or supplier arrears must be cleared to unlock bank approval.
- You have strong equity and a clear exit but need short-term liquidity.
How We Work at Secured Lending
- We review your security position, equity, and exit strategy.
- We coordinate first mortgagee consent for a second mortgage.
- We confirm valuation, structure the facility, and set timelines.
- We arrange drawdown for same day settlement when documentation allows.
- You can borrow up to $10million, subject to asset quality, LVR, and serviceability.
- We offer secured business loan and second mortgage facilities, including bridging loans for refinance-in-progress.
Using Funds to Restore Compliance
- Clear arrears and default interest to reinstate the account.
- Reduce LVR within covenant to meet policy.
- Pay contractors to reach practical completion and trigger refinance.
- Tidy ATO liabilities to satisfy bank credit.
- Set aside interest reserves for three to six months.
Why Work with a Private Lender
We are a private lender in Australia and a non-bank lender operating across Sydney, Adelaide, Melbourne, Brisbane, Perth, Gold Coast, and Canberra. As a private lender, we keep decisioning fast, coordinate directly with stakeholders, and move with clear next steps. Our track record includes over 200 strategic second mortgages used for Default remediation, refinance bridges, and urgent working capital.
Security We Accept
You can leverage residential or commercial property as collateral. We do not accept other obscure assets as security. Cross-collateralising properties can optimise LVR and pricing. We will not require you to refinance your first mortgage.
Pricing, Terms, and Certainty
- Clear, transparent pricing with options including an interest rate of 11.95%, subject to assessment.
- Short terms aligned to your exit, typically three to twelve months.
- Document-light where appropriate, with legal and consent requirements planned upfront.
- Regular updates so you always know what’s next.
How We Can Help
Secured Lending can help you move fast with a second mortgage loan for Default remediation. We review, structure, coordinate, and confirm a path to urgent settlement so you can restore compliance and keep momentum. If this pathway fits, we’ll assess your scenario today, align the loan to your exit, and arrange funding within 24 hours once conditions are met. We offer secured business loans, bridging loans, and second mortgage solutions, with capacity to borrow up to $10million. Secured Lending is a short-term lending solution you can rely on. When you’re ready, our team is here to help you move quickly and confidently. We have provided strategic lending advice for this in the past, and can help assess your scenario.
FAQs
What documents do you need?
Valuation, first mortgagee consent, ID, company search, and a clear exit. We outline the list on day one.
How fast can funds draw?
With consent and docs executed, we can achieve same day settlement or funding within 24 hours.
What property can secure the loan?
Residential or commercial property. Multiple properties are fine. We don’t accept vehicles, plant, crypto, or other obscure assets.
How is pricing determined?
Asset quality, LVR, risk, and term. Options can include an interest rate of 11.95%. No hidden fees; we outline costs upfront.
Bank consent?
Often, if funds restore compliance. We coordinate consent with the first mortgagee directly, promptly.
