Alphacon Second
Equity out without breaking the facility underneath it.
Indicative terms the same business day. No accreditation needed to submit.
From
9.95%
Behind a first
- Facility
- $100K - $5M
- Term
- 6 - 60 months
- Max LVR
- 70%
Reach for it
Leave the first mortgage where it is.
Your client has a cheap first mortgage and needs capital. Refinancing the lot to reach the equity means losing the rate, paying the break costs and repricing debt that was never the problem. Second sits behind the incumbent instead and takes only the equity above it.
Assessed on the combined position and the exit, not on servicing. The one thing that sets the timeline is the first mortgagee's consent - name them at submission and we start it on day one.
- A first mortgage worth keeping - the rate, the term or the break costs
- Clear equity above the incumbent, inside 70% combined
- A dated exit: a sale, a refinance or a capital event
- A first mortgagee who will consent to a second registered behind them
Rate card
What your client pays
- Establishment fee
- From 1.65%
- Loan management fee
- From 0.20% per month
- Risk fee
- Applies, see schedule
Risk fee runs 0.40%-0.70% of the loan depending on security, $1,980 minimum. Clean enough and we will move the deal to Alphacon Bridge and drop it entirely.
Full schedule across the panelWhat credit will and won’t do
- Facility
- $100,000 to $5,000,000
- Term
- 6 to 60 months
- Max LVR
- 70%, combined across both mortgages
- Mortgage position
- Second registered mortgage only
- First mortgagee
- Consent required - we run it in parallel
- Servicing
- Not assessed - interest prepaid or capitalised
- Credit
- Not scored
- Location
- Australia-wide
Indicative from 9.95% p.a. Every facility is subject to credit assessment, a panel valuation and satisfactory security.
Placing it
A few sentences gets you a position.
Send the scenario
Security and address, the number, the dates, the exit. Email it, call it in or send it through the form - a light touch either way, and no accreditation to clear first.
Credit reads it
Not a queue. An indicative position the same business day, and a straight answer on where it prices if it isn't here.
You keep the client
We deal with your client on this transaction only. No cross-sell, no retention calls, commission disclosed up front.
Ready to place one?
Send the security, the number, the dates and the exit. You will have an indicative position the same business day.
Questions
Alphacon Second, answered.
How is the LVR worked out?
On the combined position: the balance of the first mortgage plus our facility, against the panel valuation. Seventy per cent is the ceiling on the two together, not on ours alone.
What if the first mortgagee will not consent?
Then there is no second registered mortgage, and the deal has to refinance both - which prices on Alphacon Bridge or Alphacon Fast depending on the file. Tell us the incumbent at submission and we will tell you quickly whether consent is realistic.
How long does consent take?
Longer than everything else combined, and it is the only part of the file we do not control. A major bank is typically two to four weeks; a private first is often days. We start it the day the deal is submitted rather than after credit approval.
Why not just refinance the first as well?
Sometimes you should. If the first is expensive, or close to maturity, refinancing the lot is cleaner and prices better on Alphacon Bridge. Second exists for the case where the first is worth keeping and only the equity is needed.
Does the client service the second?
Not usually. Interest is prepaid from the advance or capitalised, so the client keeps paying only their first mortgage while our facility runs.
If not this
Your deal deserves a decision-maker.
Security, the number, the dates and the exit - that is the whole submission. A light touch to send it, no call centres, a straight answer the same day.