Do I need full financials to get a second mortgage?

No. Assurity Capital specialises in asset-based lending, meaning we can often approve loans without full income documents or tax returns.

Can I get a second mortgage with bad credit?

Yes. We regularly help clients with impaired credit secure second mortgages, provided there is sufficient equity and a clear exit strategy.

How Much Can I Borrow with a Second Mortgage?

Q: How much can I borrow with a second mortgage?

At Assurity Capital, you can typically borrow up to 75% of the property's value across both your first and second mortgage. The actual amount depends on how much equity you have after subtracting your existing mortgage.

Assurity Capital
Aug 7
3 min read

Second mortgages can unlock the value in your existing property without disrupting your first mortgage — but how much can you actually borrow?

At Assurity Capital, we specialise in fast, flexible second mortgage solutions for borrowers across Australia. Whether you’re looking to fund a business, settle urgent debts, or cover a property deposit, this guide will help you understand how much you can borrow with a second mortgage — and how the process works.

What Is a Second Mortgage?

A second mortgage is a loan that’s secured by a property already subject to a first mortgage. Because it ranks second in priority, the risk to the lender is higher — which is why major banks rarely offer them.

That’s where private lenders like Assurity Capital come in. We work with borrowers who need urgent capital and may not qualify through traditional banks.

How Much Can I Borrow?

Your second mortgage limit is primarily based on your available equity and the combined Loan-to-Value Ratio (LVR) — that is, the total of your first and second mortgages as a percentage of your property’s value.

Example Scenario:

Property value: $1,000,000
Existing mortgage: $600,000
Max LVR (first + second): 75%
Max loan: $1,000,000 × 75% = $750,000
Available second mortgage: $750,000 − $600,000 = $150,000

What LVRs Are Available?

Lender Type	Max Combined LVR	Typical Borrower Profile
Banks	Rarely offered	Not common in Australia
Non-Banks	Up to 70%	May require full docs
Private Lenders	65–75%	Flexible, fast, asset-based lending

At Assurity Capital, we can arrange second mortgages up to 75% LVR, depending on property type, location, and strength of the deal.

Do I Need Income Documents?

Not necessarily.

We focus on the strength of your asset, not your payslips or tax returns. We often help self-employed borrowers, investors, and business owners who:

Don’t have up-to-date financials
Have impaired credit
Need urgent settlements
Require non-traditional structuring

What Properties Are Eligible?

We arrange second mortgages against:

Residential homes (owner-occupied or investment)
Commercial properties
Vacant land (case-by-case)
Development sites

We lend in most states and territories, including metro and select regional areas. Prime suburbs like Bondi, North Bondi, Vaucluse, Mosman, Brighton, Toorak and others are especially attractive to private lenders due to stable values.

What Can the Loan Be Used For?

Second mortgages are typically used for:

Business cash flow
ATO tax debts
Legal payouts or divorce settlements
Bridging finance
Paying out caveat loans
Refinancing existing private loans
Property investment or deposits

Is First Mortgagee Consent Required?

Sometimes — but not always.

Registered second mortgages usually require consent from the first mortgagee, but we can also arrange unregistered second mortgages that do not require formal consent, offering faster settlement when time is critical.

Fast Funding. No Valuation Required in Some Cases.

We can often issue indicative terms the same day and settle within 48–72 hours, especially when:

There’s clear equity
The borrower is cooperative
Legal and title access is fast

Valuations are not always required, depending on location and loan size.

Ready to Find Out How Much You Can Borrow?

At Assurity Capital, we understand that speed and flexibility matter. We work with brokers and borrowers across Australia to structure second mortgage loans that work for real-life scenarios — even when the banks say no.