Mobile Mortgages

We Can Do A Second Mortgage

We have a few million $NZ we can access for second mortgage placement.

Lenders are currently quite sensitive to high first mortgage amounts and priority figures and so Caveat seconds are starting to re appear as they did many years ago.

These are great options for people who have a deal that needs to be done and only need the lending for 12 to 24 months.

All deals on a case by case basis.

Product: Interest Only.

Term: 12 to 24 months.

Security: Residential Property.

Rate: 14% to 17%

Lvrs: under 75%

Max Amount: $100,000.

Right to pay down: Some lenders will allow principal payments.

This option is certainly worth a try and is very competitive with other available options out there at the moment.

Asset Lending Advances

This is a great option for people with lots of equity but you don’t meet the income requirements of the major lenders for what ever reason.

Security is via a First Mortgage and interest rates are from 8.75%

Security that can be used can range from Residential Real Estate to Farms to Commercial Real Estate.

Give us a try.

It can still be done.

One of the brokers in our network recently had this success.

Recently a couple approached us about purchasing their first home together.

As a gift from the family, the couples family were gifting them the equity in a home by allowing the couple to purchase at a discounted price.

A deposit had not been saved and the young couple required 100% funding of the purchase price. (this was possible due to the equity in the property being gifted.)

The husband and wife were self employed and had a couple of defaults on their credit report.

Debt servicing however appeared fine based upon self-declared incomes although financials provided indicated the income declaration was reasonable.

The successful loan was approved of just over $194,000 at 10.35% pa for a 30 year term.

Do you know anyone in a similar situation?

Let us know, we might be able to help.

Obviously this is an example of using a great mortgage professional.