Why choose Flexy's Second Mortgage Loan?
Whether you're covering a shortfall on settlement, renovating, or releasing equity for business use, Flexy’s second mortgage facility gives you fast, non-bank capital secured against your property, without refinancing your main loan.
Flexy's Second Mortgage Loan Calculator
How much can I borrow?
Small Business Loan
Fast funding up to $50k for business growth, bridging finance, or renovations.
Learn more
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Key features of our Second Mortgage Loan
Max loan
$50,000 – $150,000
Security
Second mortgage over home or investment property
Max LVR
80% (total across all lending)
Loan term
3 – 6 months
Interest
Interest only paid monthly. Optional 1 month interest capitalised
Exit plan
Strong and realistic exit such as refinance, property sale, or business proceeds
Eligibility
Loans must be to a company or trust. We do not lend to individuals.
Legal costs
Lenders legal estimate $1,500
Approval speed
Same or next-day approval. Repeat clients funded the same day.
Who is this loan for?
Small Business Owners
Needing fast lending for cash flow, wages, or marketing spend.
Retail & Hospo Operators
Covering urgent costs like stock purchases, repairs, or slow trading periods.
Contractors & Tradies
Bridging cash gaps between invoices or funding materials upfront.
Businesses Behind on Tax
Clearing urgent IRD payments without bank delays.
Business Buyers
Accessing short-term funds to secure or settle a small business purchase quickly.
Who this loan is for:
01
Property investors
Topping up a deposit, bridging a funding gap, or unlocking equity to act fast.
02
Business owners
Releasing capital for urgent expenses, tax arrears, or short-term working capital.
03
Renovators and flippers
Funding major renovations, especially when the $50k caveat loan doesn’t stretch far enough.
04
Buyers needing short-term bridging
Settling a new property purchase before their sale completes.
How does a second mortgage work?
Think of your property as a layered cake of finance. The first layer is your main bank mortgage. On top of that, a second mortgage adds another layer of lending without needing to refinance your first loan.
For example:
Let’s say your property is worth $600,000
You already have a bank loan of $400,000
Flexy can lend up to 80% of your property’s value, that’s $480,000 in total secured lending
So your second mortgage could be up to $80,000 ($480k max minus $400k existing)
It’s secured by your property, just like your first mortgage, but it sits second in priority. This lets you unlock equity quickly without disrupting your main home loan.
How our lending works
01
Apply online
Just enter your property address, current lending, and your exit strategy.
02
Fast review
We check your title, LVR, and exit plan. Most approvals are same-day.
03
Sign & fund
Sign your loan offer, complete any conditions, and visit your solicitor. Once signed, we release the funds.
Why apply for lending with Flexy?
We’re a lender that understands property and speed.
No slow bank credit teams, no income statements just clear, fast lending for borrowers who need to act.
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Simple online application
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No need to refinance your bank loan
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Built for traders, investors, and business owners
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Transparent pricing and fast approval
Second Mortgage FAQ's
A second mortgage is a loan secured against a property that already has a mortgage on it. It sits behind your main bank loan and uses your available equity. With Flexy, it means you don’t need to refinance your first mortgage, we just use what’s left over in equity.
Yes. Flexy regularly lends against investment properties using a second mortgage or caveat. As long as there’s enough equity and a clear exit plan, we can fund up to 80% LVR (including your existing lending). No refinance of your main bank loan required.
The amount you can borrow depends on your property’s value, your existing loans, and your exit strategy.
Use this quick formula: Property value × 80% - existing first mortgage amount.
Try Flexy’s [loan calculator] to see your estimated amount instantly.
Yes, second mortgage interest rates are usually higher than standard bank mortgage rates. That’s because they sit behind your main loan and carry more risk for the lender.
Rates also depend on your loan-to-value ratio (LVR) and the type or location of your property. For example, a remote or harder-to-sell property may attract a higher rate.
In most cases, yes, if the loan is used for business or investment purposes, such as funding a renovation for resale, buying a business, or other income-generating activity, the interest is generally tax deductible.
However, residential property investors may face restrictions. The phased removal of interest deductibility (starting in 2021) impacted many investors, but from 1 April 2025, full deductibility is being gradually reinstated under the current government policy.
Our advice:
Check with your accountant to confirm whether your loan interest is deductible based on your specific situation and the purpose of the loan.A second mortgage is a good idea when you need short-term cash for a deal, but don’t want to refinance your main bank loan. It’s commonly used for bridging finance, renovations, business cash flow, or tax payments.
A second mortgage is ideal when you need fast access to equity without the delays, paperwork, or costs of refinancing your entire mortgage.
Picture this scenario. You have spotted the perfect flip project and want to move quickly. Your family home has plenty of equity, yet your main bank cannot approve a short-term trade loan in time, or will not lend for that purpose. Refinancing your whole home loan to a non-bank lender would mean giving up your sharp bank rate and paying full refinance fees on a large balance. Taking a second mortgage lets you draw only the equity you need for the new project, leaving your primary mortgage untouched.
A second mortgage is best suited for:
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Bridging a shortfall on a property purchase or deposit
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Funding renovations or other value-add projects
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Clearing urgent business or tax expenses
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Covering settlement timing gaps between buying and selling
With Flexy, you keep your main bank loan exactly where it is. We simply add a smaller, short-term loan behind it, secured by your property and typically repaid within months.
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We lend to companies and trusts that own residential property. Commercial property can be used, but loan amounts are more conservative. You’ll need to have enough equity in the property and a clear exit plan, like selling the property or refinancing with your main bank.
Use our calculator to estimate how much you can borrow. We typically lend up to 80% combined loan-to-value ratio (LVR), so your borrowing amount depends on your property value and current mortgage.
Here’s how it works:
If your home is worth $600,000 and your existing mortgage is $400,000, we can lend up to $480,000 in total (that’s 80% of $600k). That means you may be eligible for a second mortgage of up to $80,000.That’s the borrowing limit, but how much you can actually afford to borrow is a different question.
Flexy does not assess income or affordability. Our lending is based on your equity and a clear repayment plan. It’s your responsibility to ensure you can meet interest payments and repay the loan on time.
We recommend speaking with your accountant or financial adviser to understand your cashflow,
business income, and tax position before taking on additional lending.
Yes, in New Zealand a second mortgagee can initiate a mortgagee sale.
Flexy holds the same legal rights to enforce the mortgage as a bank does. In fact, as a second lender, we are often stricter. That’s because our risks are higher as a second lender and interest adds up quickly if issues aren’t dealt with.
If a borrower defaults, fails to communicate, or breaches loan terms, we will act fast to protect our position including initiating a mortgagee sale if necessary.
What our clients
say about us
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Who we help
Property investors
Property traders
Small businesses
Businesses in tax arrears
