Simply Mortgages

We Can Do A Second Mortgage

We have a few million $NZ for second mortgage placement.

Lenders are currently quite sensitive to high first mortgage amounts and priority figures and so Caveat seconds are starting to re appear as they did many years ago.

These are great options for people who have a deal that needs to be done and only need the lending for 12 to 24 months.

All deals on a case by case basis.

Product: Interest Only.

Term: 12 to 24 months.

Security: Residential Property.

Rate: 14% to 17%

Lvrs: under 75%

Max Amount: $100,000.

Right to pay down: Some lenders will allow principal payments.

This option is certainly worth a try and is very competitive with other available options out there at the moment.

Asset Lending Advances

This is a great option for people with lots of equity but you don’t meet the income requirements of the major lenders for what ever reason.

Security is via a First Mortgage and interest rates are from 8.75%

Security that can be used can range from Residential Real Estate to Farms to Commercial Real Estate.

Give us a try.

One of our favorite funders was sent application from a father and daughter, to refinance and top up the mortgage on a home owned by the father (and to buy out his ex-wife’s share).

The father was on WINZ and needed his daughter’s support for debt servicing to work. She was in stable employment on a good income. Both had clean credit and the daughter was moving back in to live with her father.

Our friendly lender approved the loan conditional upon the daughter becoming joint owner of the property, i.e. she benefited from the transaction too.

Do you know someone looking for a loan in a similar situation?

Contact us using the contact page