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Leave the first mortgage alone

Second mortgage with no valuation: business funds behind the loan you already have.

A second mortgage lets you borrow against the equity left over after your existing loan, without touching that loan. Equity Tap writes second mortgages for business purposes with no valuation needed before approval.

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$50k–$5mBusiness facilities
1–12 monthsShort-term options
As little as 24hFor eligible scenarios
Australia-wideProperty security
second mortgage no valuation

When a second mortgage is the right tool

Refinancing the whole property to free up equity can mean break costs, a new bank application and weeks of process, all to fix a problem that may only last a few months. A second mortgage leaves the first loan exactly as it is and adds a separate, short-term business loan behind it. When the need has passed, the second mortgage is repaid and the original loan carries on.

Second mortgage loan documents being reviewed for an Equity Tap business loan with no valuation

Why valuations hurt second mortgages most

A second mortgage sits in the equity between the first loan and the property's value, so it is the part of the deal most exposed to a cautious valuation. A small trim to the valuer's figure can wipe out a large share of the room left for the second loan, and that often happens days into the process. Equity Tap does not need a valuation before approval, so that late surprise is taken out of the picture.

What we need to see

  • The property address and who is on the title.
  • A recent statement for the first mortgage showing the balance and that it is up to date.
  • What the business needs the money for and the date it is needed by.
  • How the loan will be repaid: a sale, a refinance of both loans into one, or an incoming business payment.
  • Identification for the borrowers and guarantors.

We do not ask for tax returns, BAS or bank statements for a property-secured second mortgage.

The one thing that can affect timing

Some first lenders need to consent before a second mortgage is registered. If you know who your first lender is and whether consent is needed, tell us early so it runs alongside the rest of the work. That is often the biggest variable once the valuation step is gone.

Problems second mortgages solve every week

  • Paying an ATO debt without disturbing a sharp first mortgage rate.
  • Buying stock or equipment for a contract that has already been won.
  • Paying out a cash flow loan with daily or weekly deductions.
  • Covering a deposit or settlement gap while a sale or refinance completes.

Repayments while the plan plays out

On eligible facilities, up to six months of interest can be prepaid or added to the loan, so the second mortgage does not add a monthly payment while you work towards the exit. Terms run from one to twelve months. Pricing is set on your individual circumstances, the sharpest rate available for your situation. For a fuller explanation of consent, combined loan-to-value and exits, read our second mortgage business loans page.

Frequently asked questions

Do you need a valuation for a second mortgage?
No. Equity Tap does not need a valuation before approving a second mortgage business loan. We assess the property, the first mortgage balance, the purpose and the exit.
Does my first lender need to agree?
Some first lenders require consent before a second mortgage is registered. Tell us who your first lender is early so the consent can be requested while the rest of the loan is prepared.
How much can I borrow on a second mortgage?
Equity Tap lends from $50k to $5m. The amount on a second mortgage depends on the equity remaining after the first loan and the exit.
Can the second mortgage be over commercial property?
Yes. We lend against acceptable residential or commercial property across Australia.
Do you need bank statements or financials?
No. For a property-secured second mortgage we do not ask for tax returns, BAS or bank statements.

Brokers: send the scenario through the Equity Tap broker channel and you will deal with the same lending team.

Clear answer. Fast.

Tell us what needs to happen, and when.

A lending specialist will assess the property, the business purpose and your exit strategy.

Let's Get Started