$110,000 Second Mortgage – Yunderup, Western Australia
$110,000 Second Mortgage – Yunderup, Western Australia
Assurity Capital recently provided a $110,000 second mortgage secured against a property in Yunderup, Western Australia.
The borrower required the funds to invest into a property development project and was seeking a straightforward short-term funding solution.
The Loan
Loan Amount: $110,000
Security: Second mortgage
Location: Yunderup, Western Australia
Purpose: Investment into a property development project
Estimated Combined LVR: 63%
Valuation: Not required
With the estimated leverage at approximately 63%, Assurity Capital was comfortable assessing the security without requiring a new formal valuation.
This helped simplify the process and avoided the additional time and expense associated with obtaining a valuation.
Second Mortgage Finance for Business and Investment Purposes
A second mortgage can provide borrowers with access to equity in an existing property without needing to refinance their current first mortgage.
At Assurity Capital, we consider second mortgage loans for business and investment purposes across Australia, including metropolitan and selected regional locations.
Funding can be used for purposes including property investment and development opportunities, business working capital, creditor and ATO payments, business acquisitions and other commercial requirements.
We assess each transaction individually and can often provide solutions where borrowers require a fast and flexible private lending option.
Have a Second Mortgage Scenario?
If you have a client looking for a first or second mortgage for business or investment purposes, send the scenario through to Assurity Capital.
Loan sizes from $50,000 to $5 million.
Phone: 02 9389 1077
Assurity Capital provides loans for business and investment purposes only. We do not provide regulated consumer credit.
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