Why is speed important in choosing a second mortgage lender?May 28, 2020
What is the difference between second mortgages and caveat loans?May 28, 2020
A second mortgage needs to be approved by the first mortgagee. As a result, loan settlements can take three weeks or more. However, while waiting for the second mortgage to be approved by the first mortgagee, you may still have access to the funds.
Caveat security can be registered while waiting for the second mortgage to be registered. In that case, a loan settlement of 24 – 48 hours would be possible