“A second mortgage can buy you time”

Second Mortgages

Do you have financial problems like overdue tax, unpaid debts to family or a business, or many debts that you need to be consolidated? 

Most of the loans required to pay for these debts are under $100,000 but in many cases, unsecured lenders will not approve them. This could be for a variety of reasons, including affordability, credit issues and the purpose of the loan.

Fortunately, that’s where non-bank lenders like iLender come in. We can provide loans for people with bad credit in the form of short-term second mortgages on your home.

Securing a Second Mortgage

Second mortgage lenders do not require the consent of the Bank to approve and lodge their mortgage. This gives you greater freedom, as many banks would refuse you for fear of losing their equity in your property.

The mortgage brokers at iLender provide our customers in Auckland with home loans that are tailored to help them clear or consolidate debts.

Short-Term Fixes

Sometimes all it takes for you to get back on top of things is taking care of one or two big obstacles. Our second mortgage loans for people with bad credit are perfect for this kind of short-term fix.

Some examples of recent problems we’ve helped to solve are:

  • Clearing back tax with the IRD
  • Bringing Body Corp dues up to date and paying for remedial works to property
  • Bridging the gap between the Bank and purchase price, in some cases creating a 100% mortgage

Responsible Non-Bank Lending

One important thing to consider for this type of loan is that they come with high-interest rates. This covers the inherent risk involved for the lender. For this reason, iLender works carefully with you to make sure that a second mortgage is right for you.

Non-bank Lending

Non-Bank Lending Mortgage Specialists, Here to Help

How Can I Apply for a Second Mortgage?

If you are interested in a second mortgage, you can apply quickly and easily online, and we’ll tell you straightaway what can be done and what costs are involved.

The lender will then make you an offer, usually subject to a Registered Valuation. After an unconditional offer is made, you will proceed to settlement.

A mortgage solution in 4 simple steps:

  1. Call or complete the online application, we’ll tell you straight-away what can be done and what the costs are.
  2. Lender makes you an offer, usually subject to a Registered Valuation.
  3. Unconditional offer.
  4. Settlement.

 

Couple getting a second mortgage

Tell us about your situation

Let us help you get your mortgage, insurance or other lending sorted.

Contact Us

Call 0800 536 337 to take the First Step into buying or refinancing.

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