Second mortgage · Flex
Second mortgage, ATO debt resolution behind a fixed first
$650k, 78% combined LVR · Melbourne, VIC
Quick answer
Self-employed borrower with strong equity in a Toorak family home, an existing first mortgage fixed at a rate well below current variable, and a six-figure ATO debt the bank would not refinance into a top-up. Full refinance would have meant losing the fixed first.
Representative deal shape · Not a specific transaction · For information only
Structure
- Registered second mortgage behind the existing first
- First-mortgage-holder consent obtained as part of the standard process
- Combined LVR of 78%, inside the standard 80% prime residential cap
- ATO debt cleared at settlement; remainder used for short-dated working capital
Outcome
Existing fixed first kept intact. Settlement within 2 weeks after first-mortgage consent landed. Exit on a contracted business sale 9 months later.
Why this shape clears
Files like this clear because the exit is documented, the security supports the position, and the timing fits a private credit file rather than a bank file. Speed is the tradeoff against rate, and on short-dated files the speed call usually wins. See the Flex product page for full envelope.
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