Defaults don't end the conversationSecond mortgages, priced in plain English
Second mortgages in Australia: typically $100k to $5m at up to 75–80% combined, over 6–36 months, settling in 5–15 days once security and entity documents are in hand. A registered second mortgage behind an existing bank first mortgage, releasing equity for business or investment purposes without refinancing the first loan.
- Pricing explained in plain EnglishWhat we bring
- Exit plan agreed before you commitWhat we bring
- Genuine case-by-case assessmentWhat we bring
Indicative terms in three minutes
Business-purpose and investment finance only. No credit check at this stage.
“This sounds like a predatory lender”
We hear this constantly. The honest answer is that it depends on security, exit and documentation — which is exactly what the enquiry form asks — and that the lenders on our panel — banks, private lenders and specialist funds alike — price those three things, not the label on the borrower.
“The rate will be impossible to service” — a fair concern, and one we address in writing before any application is lodged.
“Nobody will explain why I was declined” — a fair concern, and one we address in writing before any application is lodged.
Typical pain points: Rejected by every bank so far; One default from years ago still hurting; Judgment showing on the credit file; Told no without a real explanation; Rates quoted feel punitive. What we bring: pricing explained in plain english, exit plan agreed before you commit, genuine case-by-case assessment.
How we work.
From the first call to the final drawdown, each step is led by a principal — not a queue.
Tell us the scenario
Purpose, amount, security and timeframe — the qualifier takes about three minutes and every answer maps to how our lender panel assesses second mortgages.
Indicative terms
A specialist reviews the scenario and comes back with an indicative structure, pricing range and the documents needed. Urgent scenarios get a call within minutes during business hours.
Credit and valuation
The lender assesses security, entity and exit. For second mortgages this is typically 5–15 days end to end.
Settlement
Solicitors settle, funds are released, and the deal is tracked to its exit in our CRM so refinancing or the next facility is ready before the term ends.
Questions we are asked.
Can I get a business loan with a default on my credit file?
Often, yes. This category exists specifically for borrowers the mainstream banks decline, and lenders on this panel assess the circumstances behind the default, the current security and the exit, rather than filtering on the credit file alone. Every file is genuinely assessed case by case.
Will the interest rate make the loan impossible to service?
Pricing reflects the risk and is set out in plain English before you commit, so you can assess serviceability with the full picture rather than a headline rate. We won't place a facility that doesn't have a credible exit or repayment path.
Can I borrow after a prior business liquidation or bankruptcy?
Yes, provided sufficient time has passed or the circumstances are explainable, and depending on whether you're borrowing personally or through a new entity. Security and the current business position typically matter more to lenders in this category than what happened previously.
Why was I declined without a clear reason?
Mainstream lenders often decline on policy without explaining the specific trigger, which can be a single default, a thin credit file, or an automated risk score rather than a genuine assessment of your circumstances. We work through what's on file with you before approaching lenders who assess the full picture.
What can I do to improve my chances of approval?
Being upfront about what's on file, together with clear evidence of current trading and a workable exit, does more than trying to minimise or hide the history. Lenders in this category expect some credit impairment and assess around it rather than being caught off guard by it.
Is there a dispute process if something goes wrong with the loan?
Yes, lenders on our panel have their own dispute-resolution processes for commercial facilities, and details are set out in the loan documentation before you commit. We can point you to the relevant process for your specific lender on request. Ask what applies before you sign, since arrangements can differ between lenders.
How fast can second mortgages settle?
Typically 5–15 days from a complete application, depending on valuation, legal and lender workload. Speed depends on how quickly security and entity documents are available.
How much can I borrow with second mortgages?
Our panel typically funds from $100,000 to $5,000,000, at up to 75–80% combined. Larger or more complex facilities are structured case by case across banks, private lenders and specialist funds.
What security is needed?
Registered second mortgage. The stronger and more liquid the security, the sharper the pricing.
Is this a consumer loan?
No. Solara arranges business-purpose and investment-purpose finance only. If your purpose is personal or for owner-occupied housing, this product is not suitable and we will say so.
Related finance.
Not quite the right product? Every loan type we arrange.
Most scenarios can be structured more than one way. Browse the alternatives, or tell us the situation and we'll recommend the structure.