What is the difference between second mortgages and caveat loans?

How fast can I receive funds from a second mortgages settlement?
May 28, 2020
How is lending criteria different for second mortgage lending?
May 28, 2020

The main difference between the two private lending facilities is the security type. Certainly one is a second mortgage and the other being a caveat. Otherwise, they are very similar, except for the speed to access funds.

Consequently, the speed of caveat loans is much faster as you don’t need to obtain approval from the first mortgagee. Therefore, see the comparison below between the two private facilities.