Secured credit
Second mortgages
A second mortgage sits behind your existing first charge. You keep the first mortgage exactly as it is — and avoid the penalty that breaking it would trigger.
Pre-qualification is not a mortgage approval or a commitment to lend. All mortgages are subject to lender approval.
Why go behind rather than replace
If your first mortgage carries a rate you would not get again today, or a penalty large enough to eat the benefit of refinancing, leaving it alone is often the cheaper answer. A second mortgage registers behind it and draws on the equity without touching the first at all.
The comparison is arithmetic: the penalty plus the new blended cost of a refinance, against the higher rate and fees on a smaller second. We run both and show you the workings.
How it is priced
A second-charge lender is behind the first in a default, so the rate is higher and there are typically lender and brokerage fees. Terms are usually one to two years, payments are often interest only, and total borrowing across both charges is generally capped around 80% of value, sometimes higher with a private lender at a higher price.
Have a plan to retire it
A second mortgage is best used as a defined-length instrument: clear a specific debt, fund a specific renovation, cover a specific gap. The usual exit is consolidating it into the first at renewal, when there is no penalty to do so. We will map that date with you when the second is arranged.
What we never ask for online
No SIN, no date of birth, no credit score and no banking detail is collected through this website. When a lender formally needs those, you provide them directly through the lender’s own secure system.
How we handle your information
Find out what you qualify for.
Takes about two minutes. No credit inquiry to start, and no SIN required — we only ask for that when a lender formally needs it.
Pre-qualification is not a mortgage approval or a commitment to lend. All mortgages are subject to lender approval.