First Rate Mortgages Home Loans NZ
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Second Mortgages are a solution if your Bank has said "NO" to a Top Up on your Home Loan or Commercial Mortgage.

Why do Bank's say "NO" when you have such good equity and you have banked with them for years?

Poor repayment history,
Bad credit history,
Existing credit cards are over limits,
Mortgagee Sale underway or Bank is about to Foreclose,
Application does not meet servicing guidelines,
Existing borrowing is too high,
No appointments available this week,
"Outside Criteria" - this can be any of the above!

Don't despair, we can often help with a second mortgage loan from say $10,000 to $1.5M!

We do deal with a large number of Non Bank second mortgage providers and this allows us to look for other ways to assist you, even if you have missed some repayments and need help with a loan with payment arrears or bad credit. Loans in excess of $10,000 are preferred and our lenders always require property such as a home or building as security. Small debt consolidation loans on an unsecured basis are not our market and we can not help with these. The only option that may work is if you have a guarantor who owns property and they may assist. They must have independent legal advice though as they are putting their assets at risk for you.

Are you looking to consolidate debts, purchase a car, go on a holiday, get married, pay funeral costs or a gift to help out family members? Maybe you have missed some mortgage payments and you are in arrears and you just need a short term loan to catch up. We can often assist in these circumstances and as security the lender will require a second mortgage or caveat on a home, either your own, or say a family member, in some instances security over a late model car, a boat or business assets will also be required.

It is important that we show any lender that you have the ability to meet loan repayments as these will be at a higher interest rate than bank finance. In some instances these can be added to the loan if required. As a second mortgage is usually a short term solution at a higher interest rate, we must also understand what the goal is prior to the expiry of the loan. Will you be selling the property, consolidating with an existing mortgage or perhaps you have a lump sum payment due.

If you are experiencing financial pressure we will see if you can free up some cash by combining your debts plus any unpaid bills into one loan. You can then have just one payment which can be due on the day that you are paid, weekly, fortnightly or monthly. Budgeting will be so much easier and help you get on top of things, so you do not get further behind. We encourage you to try and pay off a Second Mortgage as quickly as possible, as short term debt at high rates must only be a temporary solution.

So if you are looking for a Second Mortgage and need urgent help, call now!

Contact us for more information
or Freephone 0800 178 726

First Rate Mortgages - "Financial Fresh Air"