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Second Registered Mortgage

A second mortgage typically refers to a secured loan (or mortgage) that is subordinate to another loan against the same property, such as represented above under a First Registered Mortgage.

A second mortgage is a charge over a property that already has another mortgage on it and the mortgages are ranked in the order in which they were lodged. In the event that the debt isn’t paid and the property is sold, the first mortgage is paid back before any money is paid to the second or third mortgagee (lender).

Latest Funded Second Registered Mortgage

Loan Amount $1,300,000
Security Residential home in Tamarama
Valuation $8,200,000
LVR 64%
Term 12mths

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