Can a private loan really settle in 24 hours?

Yes, but only for caveat loans. A caveat is a simpler security instrument than a mortgage, which means the legal and registration process is faster. For a standard first or second mortgage, the fastest realistic settlement is 5 business days. Caveat loans carry higher rates to reflect the speed and convenience.

What's the fastest way to get a private loan approved?

Have all your documents ready before you approach a broker, work with a specialist private lending broker (not a generalist), choose the right product for your timeline, and respond to any lender requests the same day. These four steps will put you at the fastest end of the approval range for your chosen product.

Do private lenders do credit checks?

Most do, but credit history is weighted differently than at a bank. Private lenders focus primarily on the property security and exit strategy. A credit check provides additional context, but defaults and judgements don't automatically disqualify you. Some no-doc lenders conduct only a title search and basic credit enquiry.

Can I get approved on a weekend?

Some private lenders and brokers operate outside standard business hours for urgent deals. Caveat loans in particular can be assessed and approved over a weekend if the situation demands it. For mortgage-based lending, the settlement itself typically requires business hours due to legal and banking processes.

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Second Mortgages in Australia: Strategies, Costs, and When They Work

Jan 22
1 min read

Updated: Apr 15

A second mortgage is a loan secured against your property, subordinate to an existing first mortgage. The second lender sits behind the first mortgage holder in the repayment queue — if you default and the property is sold, the first lender gets paid out first.

Second Mortgages in Australia: Strategies, Costs, and When They Work

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