Firstly, when considering credit applications, it’s important to recognize that all credit inquiries impact your credit file. This applies to second mortgages as well. Therefore, to […]
A second mortgage loan allows you to retain your existing first mortgage lender while accessing additional funds provided by the second mortgage lender. On the other hand, refinancing involves paying off your […]
The required equity for obtaining a second mortgage depends on the type of security involved. Generally, the following guidelines apply: Residential Properties: Equity Range: Typically, lenders prefer homeowners […]
Yes, however if a business second mortgage the debts to be paid must be >50% business debts. Although, there are consumer second mortgages and caveat loans […]
Second mortgage rates start at around 13.95% pa. However, depending on the lender, the assesed risk, your credit rating and your type of security property the […]
Second mortgage loans are generally used for business purposes. However, are also suited for limited consumer purposes where there the loan is paid back by selling […]
Second mortgage loans are generally for business purposes. However, are also suited for limited consumer purposes where there is a property sale. The main requirement in […]
Second mortgages are a type of security registration that is placed behind another registered mortgage (1st mortgage) usually by another lender. For instance, a lender such […]
Second mortgage loans are a popular type of lending for business. As such, second mortgages have great benefits for businesses requiring fast access to funds. However, […]