ARTICLE · 22 MARCH 2021

Practice Guide for Second Mortgages – Summary

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This guide covers information about second mortgages as well as tips and traps when lending via this type of security.

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PRACTICE GUIDE FOR SECOND MORTGAGES

Due diligence, documentation, and recovery, there are specific matters to note for those lenders providing finance through the use of second mortgages.

At Bennett & Philp, a number of our lender clients provide finance in this space and we have taken the time to collate some of our best advice to second mortgagees in a practice guide being a series of articles dedicated to the use of second mortgages.

This guide covers critical information about second mortgages as well as tips and traps to watch out for when lending via this type of security.

This guide is also relevant to first mortgagees in understanding the rights of second mortgagees. Some of our more general advice will also be applicable to first mortgage securities.

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