Fast first mortgage business loans

Plenty of business owners hold property outright: the family home that was paid off years ago, a factory bought with a lump sum, a holiday unit, an investment shop. That property is often the fastest route to a substantial amount of funding, because first-ranking security over unencumbered property is about as strong as business lending gets.

How a first mortgage business loan works

The lender takes a first mortgage over the property. If there is already a small loan, it is paid out from the new loan so the new lender ranks first. Because nothing sits ahead of it, the amount available is usually larger than a second mortgage or caveat over the same property.

Amounts run from $20k to $5m against residential or commercial property. There is no valuation requirement, which cuts days or weeks from the process. Interest can be prepaid or added to the loan if the business would rather not make repayments during the term.

How fast it moves

With the property details and ownership confirmed, approval within the hour is common. Documents are signed electronically and the mortgage is prepared for registration. Where the property is unencumbered, funds within 24 hours is possible. Where an existing loan has to be paid out, the timing depends partly on how fast that lender issues a payout figure, so request it as early as possible.

The quickest route to a real answer is a real enquiry. Start it now and we will take it from there.

Which property should you use?

If you own more than one, the choice affects speed:

• Unencumbered property is fastest, because there is nothing to pay out.
• Property in your personal name is usually simpler than property held in a trust.
• Residential or commercial both work; unusual properties, such as large rural holdings, may need more information.
• Property owned with others means everyone on the title signs, so check they are available.

First mortgage, second mortgage or caveat?

Your situation	Often the fastest fit
Property owned outright	First mortgage
Home loan you want to keep	Second mortgage
Deadline within a day or two	Caveat loan
Large amount, longer horizon	First mortgage, possibly refinanced to a bank later

A worked example (illustrative)

A transport company director owns a paid-off industrial unit in western Sydney that the business rents from her. The company needs $650,000 to buy two prime movers and clear a supplier account before peak season. Rather than a long bank process, she offers the unit as first-mortgage security. Approval comes the same morning, documents are signed that afternoon, and funds are available the next day. The company plans to refinance to a long-term bank facility once the new trucks have a few months of income behind them.

Get these ready first

Before you start, check you can lay your hands on:

• Property address and rates notice
• Details of any small existing loan and a payout figure
• ID for every owner
• What the funds are for and how they will be repaid
• Business bank statements if repayments will come from trading

Where the time usually goes

In our experience, delays usually come from one of these:

• Waiting on a current lender’s payout figure
• Property owned in a trust with an incomplete deed
• Co-owners who need time to agree
• Unusual or hard-to-describe properties

Read using property equity fast for more on choosing which asset to offer, and our explainer on property loans without a valuation for why skipping the valuer saves so much time. If the amount you need is above $1m, the page on large business loans, fast covers what changes at the top of the range.

A note on the enquiry form

Most delays we see trace back to something that changed after the first call: the amount went up, the turnover turned out lower, a second director appeared or the property was in a trust. None of these are deal-breakers. They just cost time when they arrive late. Put the real picture in the form, and the assessment can be done once, properly and quickly.

The short version

• First-ranking security over residential or commercial property
• Usually unlocks the most equity
• $20k to $5m with no valuation needed
• Flexible terms and interest prepaid or added if needed

The speed part, explained

We have built the process around deadlines because that is when most owners come to us. The enquiry asks only what matters, a person rather than a queue reviews it, and the evidence is gathered in one go. Property-secured loans are assessed without a valuation. Interest on those loans can even be prepaid or added, so there may be nothing to repay during the term. Put together, approval within the hour is common and funds can arrive in as little as 24 hours.

Ready to start the clock?

The quickest way to find out is to ask. It is a 60-second form with no credit check attached, your details stay with us, and someone real gets back to you. Please take care with the amount, revenue and property questions, because accurate answers are what make fast funding possible. Check your options.