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Funding solutions
Second mortgage loans for New Zealand companies and trusts
A second mortgage is a loan secured against a property that already has a first mortgage. Flexy provides second mortgage finance of up to $150,000 to New Zealand companies and trusts. Your existing bank loan stays exactly where it is, and Flexy’s loan sits behind it.
âś“ Up to $150,000
âś“ Up to 80% combined LVR
âś“ Offers within 24 hours
Free instant estimate • No obligation
What is a second mortgage?
A second mortgage is a second loan registered against the same property. The first mortgage lender is repaid first if the property is ever sold, and the second mortgage lender is repaid from what remains. Because the first mortgage is untouched, borrowers keep their existing rate, terms and bank relationship.
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Flexy lends against the equity in a property, which is the gap between its value and the debt already secured against it. Flexy lends up to 80% combined loan to value ratio (LVR) across your existing mortgage and your Flexy loan.
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How our lending works
01
Apply online in minutes
Complete our simple online application and provide a few key details, including your property address, the amount you need, the purpose of the funds, and automatically verify your bank data with us through Illion.
02
Fast assessment
Flexy reviews your available equity, LVR and ability to service the loan. Once we have a complete application, we aim to issue a loan offer within 24 hours.
03
Receive your funds
Accept your loan offer, complete any remaining requirements through your online portal, and we'll arrange the funding process.
What do people use a second mortgage for?
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Who can apply for a second mortgage
A second mortgage is available to New Zealand companies and trusts borrowing for business or investment purposes. It is not available for personal or consumer lending.
Flexy is generally looking for applicants with:
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Genuine equity in a New Zealand property
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A clear purpose for the funds
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A realistic repayment strategy supported by evidence, such as a property sale, a confirmed refinance, or confirmed incoming funds
This product may not be suitable if:
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Your first mortgage is in arrears
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Your repayment plan relies on an unsupported refinance
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The lending required exceeds the maximum combined LVR of 80 per cent
Which Flexy loan is right for you?
Flexy offers two products secured by a second mortgage or caveat. Each suits a different repayment plan.
Product
2-Year P&I Equity Release
Borrow up to $50,000 against your property equity and repay it steadily through regular principal and interest payments over up to 24 months. Your balance reduces with every repayment and your bank loan stays in place.
Eligibility criteria: You will need sufficient cash flow to support regular repayments to qualify.
Term: Up to 24 months
Repayments: Principal and interest
Principal: Repaid progressively
Product
Short-Term Equity Release
Borrow up to $150,000 against your property equity for 3 to 12 months, with interest-only repayments and the principal repaid as a lump sum at the end. Your bank loan stays in place, no refinancing required.
Eligibility criteria: You will need a suitable lump-sum repayment plan is required to qualify
Term: 3-12 months
Repayments: Interest only
Principal: Repaid at end of term
Instant estimate
How much can I borrow?
See what your property equity could unlock. Enter a few details for a free, instant estimate, with no obligation and no effect on your existing bank mortgage. It takes about a minute.
How it's calculated
80% of your property value, minus what you already owe.
For example
A property worth $900,000 with a $560,000 mortgage has $160,000 of available equity.
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Frequently asked questions
A second mortgage is a loan secured against a property that already has a mortgage on it. It ranks behind your bank's first mortgage and uses the equity you have built up. Your existing bank loan stays in place, unchanged.
Up to $150,000, subject to a combined LVR of 80 per cent across all lending on the property. Calculate it as property value × 80%, minus your existing mortgage balance.
No. Flexy sits behind your bank and does not alter your existing loan. Where the security is a caveat, most banks are not involved in the process at all.
Yes. Clearing IRD arrears is one of the most common uses for this loan. All IRD obligations must be cleared in full with the loan. What matters is your equity and a credible plan to repay Flexy.
For most applications, no. Lending decisions are based on your equity and your repayment plan. Income evidence is requested only where repayment relies primarily on future cash flow, such as a refinance or trading income.
A registered second mortgage is a formal security interest recorded against the title. A caveat is a notice preventing dealings with the property without the lender's consent. Caveat loans are usually faster to settle and often do not require your bank's involvement.
Loan offers are issued within 24 hours of a complete application. Caveat loans can fund within days. Repeat clients can be funded same day.
Yes. Discuss your timing at application and Flexy will structure the term to suit.
New Zealand companies and trusts borrowing for business or investment purposes, with genuine property equity and a clear, evidenced repayment strategy.
What situations we help with
