Second mortgage private loans, behind a first your client keeps.

A loan registered second against a title that already carries a first. The first mortgagee is repaid in full before we see anything, that is the difference between a first and second mortgage, and the reason a second prices above a first. On our files it sits over commercial security held by a company or trust, for a business purpose.

The first mortgage stays exactly where it is. We register behind it, lend against the equity above the incumbent's balance, and take our repayment after theirs. The first mortgagee consents to that ranking by deed of priority. Your client keeps paying their first; ours is prepaid or capitalised.

The same thing, and it is what Alphacon Second is. Stand alone means our facility is not tied to the lender holding the first - we write behind whoever is there, subject to their consent. Second position, second ranking and second registered mortgage all describe the same place in the queue.

When the first mortgage is worth keeping. A sharp fixed rate, a facility with meaningful break costs, or a lender relationship the client does not want to disturb. If the first is expensive or close to maturity, refinancing the lot is usually cleaner and prices better.

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.

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.

Then there is no second registered mortgage, and the deal has to refinance both facilities - which prices on Alphacon Bridge or Alphacon Fast depending on the file. Naming the incumbent at submission lets us tell you that in hours rather than weeks.

Not usually. Servicing is not assessed - it is closer to a no doc second mortgage in that sense, because the file is assessed on the security and the exit rather than on income. Interest is prepaid from the advance or capitalised, so your client keeps paying only their first mortgage while our facility runs.

Ranking. In a realisation the first mortgagee is paid in full before we see anything, so the risk of second mortgage private lending sits entirely in the equity buffer behind them - and that is what we are pricing. The thinner the buffer, the sharper the pricing.

The document that records the agreed order of repayment between the first mortgagee and us, and the amount the first mortgage is capped at. It is how consent gets papered, and it is usually the last thing to land before settlement.

Second mortgage vs refinance turns on the first. If it is cheap, fixed, or carries break costs, a second takes only the equity and leaves the good debt alone. If the first is expensive or maturing soon, refinancing both is cleaner and prices as a first mortgage. Send us the incumbent's rate and maturity and we will tell you which is the better trade.

Yes - a non-bank second mortgage behind another private lender is common, and consent is often faster than with a major. What matters is the combined position and whether the incumbent's facility runs past ours - a first that matures inside our term is the problem, not who holds it.

Not on its own. Alphacon Second does not score credit; the assessment sits on the combined position and the exit. Tell us the story at submission so it is priced rather than discovered.

Only Alphacon Second. Alphacon Bridge, Alphacon Fast, Alphacon Line and Alphacon Reach are all first-mortgage products, so a second-ranking deal goes to Alphacon Second regardless of how clean the file is.

Yes. Second mortgage business loans are most of what we write here - working capital, an equipment purchase, a settlement gap, or paying out an ATO debt in full where the exit is real. The position says where we sit on title, not what the money is for, provided the purpose is commercial and the borrower is a company or trust.

A caveat is a notice, not a security interest, so it is quicker and dearer and gives us nothing to enforce. A second registered mortgage is the real thing, which is why it prices better. Against commercial bridging finance the difference is position: a bridge is written in first place and refinances the incumbent, a second leaves it alone.

Yes, on the same test as any second: the combined position, the first mortgagee's consent, and an exit inside our term. Send the incumbent second's balance, rate and maturity with the file. Where refinancing both facilities is the better trade we will say so.

The same way you send us anything. Security address, who holds the first and its balance and limit, the amount you want and the combined LVR it produces, and the exit. That is the whole second mortgage application, and it is all a second mortgage broker needs from the client - indicative terms come back the same business day and we start the consent that day too.