Second Mortgage

Learn about our second mortgage option at Funding and get financing for your needs. Borrow up to $10M over 36 months to cover your personal or business costs.

Get Started

Scroll to content

Build a bridge with our funding solutions

Bridging Loans

Short term loan secured against your existing property as a financial bridge

  • Buying and selling your property
  • Urgent settlements
  • Cash out / equity release
  • Upsizing and downsizing
  • Personal loan

Get Started

Business Loans

Access capital for your business when you need it or purchase a business or property

  • Investment / business purposes
  • Share purchases
  • Business cash flow / debt consolidation
  • Companies / individual borrowers

Get Started

Building Loans

Flexible and fast building loans to complete an incomplete development or building

  • Development / construction finance
  • Renovations / incomplete construction
  • Land bank and residual stock
  • New builds / owner builders

Get Started

Second Mortgage

If you’re expecting a large upcoming expense, such as financing home improvements or consolidating debts, then you might consider taking out a second mortgage to cover the costs. A second mortgage can serve as an alternative to refinancing, and many Australians use them for both their individual and business needs. 

Compared to traditional lenders like banks, second mortgage financing can be simpler and faster with online and non-bank lenders. Online lenders typically have streamlined processes compared to traditional companies that are still stuck with slow, manual processes.

Funding offers fast and flexible financing options. Our application process is entirely online, and your loan can be approved in a matter of days.

Getting a second mortgage can be a big undertaking, so learn as much as you can about it first. Our answers to common second home mortgage questions below might provide you with some insights.


What are the advantages of getting a second mortgage?

A second mortgage can be used to cover expenses, such as renovations, downpayment for a new home, purchase of new business equipment, and upgrading a commercial space, using the equity you have over an existing asset. 

Second mortgages may also have lower interest rates compared to personal loans or credit card payments. If you have sound real estate equity and a solid loan exit or repayment strategy, then you have better chances of getting approved for a second mortgage. 

Residential homes, commercial properties, and vacant land located in Australia are accepted as security here at Funding. Individuals, companies, and trusts with equity over properties are all welcome to apply for caveat loans, renovation loans, and other short-term finance options here at Funding. By simply submitting details of your loan scenario on our online platform, our team will help you find the ideal loan option that fits your needs best. 


How much can I borrow on a second mortgage?

The amount you can borrow in a second mortgage varies from lender to lender and depends on factors like the quality of your assets, the equity you have in your property, your loan term, and your credit profile. The right lender will be transparent about the loan terms and fees they offer you, so make sure to choose wisely. 

At Funding, you can borrow anywhere from $20,000 up to $10 million, with terms between one and thirty-six months, depending on your unique situation. Our LVRs are typically 65% to 70% of the property value, depending on the type of security property as well as the location.

When you get an Express Quote and same-day conditional approval from our platform, you’ll also receive an outline of your applicable rates and fees. When you receive the formal loan approval, settlement is possible in as little as three to five days.


How do I qualify for a second home mortgage?

Part of understanding how a second mortgage works is knowing the qualifications needed to get one. These can differ across lenders, but typically, you’ll need sound equity over your property, a good credit rating, proof of income or source of funds, and a declaration of your existing debts and assets, among others. 

Funding is an online platform where you can easily talk to our customer support team whenever you have questions about your loan application, including those about second mortgage requirements. You are also welcome to contact us for any enquiries you may have regarding our loan options, such as our home equity loans.

On top of this, we also use bank-level encryption and security on our platform to protect your information, so you can rest assured that your data is always safe with us.


Fast and flexible financing with Funding

Funding goes beyond being just an online lender; we are a comprehensive digital mortgage marketplace where you can borrow money and receive funds fast. What sets us apart is the innovative technology we use on top of our fast decision-making, which enables loan settlements in just a few days, not weeks. 

We offer a variety of loan options that can suit your unique needs and situation. For example, if you are a business owner looking to expand your company or enter a new venture, you can consider applying for our short-term business loans. On the other hand, our bridging loans can help families and individuals purchase a new home without immediately having to sell their current property.

To begin your loan application with us, you will need to provide the following information:

  • Basic personal information (name, email, and phone number)
  • Loan details (purpose of the loan, loan principal, and loan repayment terms)
  • Property information

Furthermore, you can upload any relevant documents that will assist you in getting your loan approved. Please review your loan application again before clicking the submit button and ensure all details are accurate to help expedite the process.

If you have any questions regarding our loan products or application process, please contact us by email at or by phone at 1300 44 33 19.

Get a free personalised quote on your desired loan today! Talk to our team and we’ll be happy to assist you with any questions you have for any Funding service, including commercial property loans and short-term bridging loans

How to get started


Get started

Forget slow and frustrating banks. We put you in the fast lane. Get started now or call 1300 44 33 19.


Get approved

Same day approval. Yes, you read that right. Conditional approval provided the day you submit.


Formal approval

Conditional approval becomes formal approval once due diligence is completed and you sign your loan documents.



Not months. Not even weeks. Just days and in as little as 48 hours settlement can be arranged.

Get Started

Don’t take our word for it.

“Funding organised a bridging loan for my client in less than a week!! No other lender could have done this and you saved my clients deposit being lost. Great result.”

Scott Vine


“We approached Funding several months back as an alternative to our normal banks, and dealt with John from day one. From the start, the transparency was there, we knew pretty much at every point what was happening…..”



“Amazing Service! We were able to turn around a deal in 2 days so the client could settle on their dream home. Nathan worked tirelessly to get this across the line and make it a smooth experience for myself and my client. Highly Recommended.”

Sandy Kelso


“The team at Funding have been great to work with. The funds have been made available quickly and without fuss. We are about to start another project and will happily use Funding again”

Kerin Friswell


Back to top