$825,000 Second Mortgage in Bondi Beach – Supporting Property Development

Assurity Capital
Aug 7, 2024
2 min read

Updated: Apr 19

When developers need fast, reliable funding, second mortgages can provide a practical solution—especially when strong equity is available.

In this recent deal, Assurity Capital arranged a $825,000 second mortgage secured against a premium apartment in Bondi Beach, Sydney.

The Scenario - Second mortgage Bondi Beach

Location: Bondi Beach, NSW
Security: Residential apartment
Second Mortgage: $825,000
Total Leverage: 52.5% LVR
Purpose: Funding support for an ongoing property development

The Opportunity

The borrowers were actively involved in a property development project and required additional capital to keep the project moving forward.

While the project itself was progressing well, timing was critical—and traditional lenders were not able to provide funds within the required timeframe.

Our Approach

With a low overall LVR of 52.5%, this was a strong, asset-backed scenario.

At Assurity Capital, we assessed the deal based on:

The strength of the security property
The borrower’s equity position
The clear development purpose and exit strategy

This allowed us to structure a second mortgage solution quickly and efficiently, without unnecessary delays.

The Outcome

Fast access to $825,000 in funding
Development timelines maintained
No disruption to the project
Flexible lending structure aligned to the borrower’s needs

Why This Worked

This deal is a great example of where private lending delivers real value:

✔ Low LVR lending scenarios✔ High-demand locations like Bondi Beach✔ Time-sensitive development funding✔ Flexible structuring outside traditional bank constraints