Are you in need of additional monies? Have you considered a Second Mortgage?

A second mortgage is secured on real estate which has already been pledged as collateral for an earlier mortgage. The second mortgage carries rights which are subordinate to those of the first with priority in settlement of claims being given to the earlier mortgage.

Second mortgages have many purposes;

• they can be used when additional funds are required and an existing lender is unwilling or unable to provide same;
• when an existing mortgage is secured at a competitive rate and you need additional funds for business purposes a second mortgage may be the cheaper option instead of refinancing an entire facility; or
• they can be structured to assist investors to acquire existing properties for either investment purposes or where "value-add” opportunities are available.
  
  Please see our funding matrix for more information.

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