Prime 2nd Mortgage

A private second mortgage behind an institutional or conventional first, for equity takeout, debt consolidation, arrears or a short-dated cash need. Prime 2nd is the sharpest second-charge pricing Lendmax offers, and it is available where the property sits in a market of 50,000 or more with no private money already on title.

What fits

Second charge behind an institutional or conventional first mortgage
Ontario, British Columbia and Alberta prime markets
Credit bands: 660+ prices best, 600–659 accepted
Debt consolidation, equity takeout, tax arrears, renovation capital, bridging a sale
Terms of 3, 6, 9 and 12 months; interest-only or amortized
Combined first-and-second bundles available on the highest-LTV approvals
No income documents; no maximum GDS or TDS
Not available where a private mortgage is already registered

Position: Second charge
Provinces: ON · BC · AB
Market: 50,000+ population
Credit floor: 600 band
Amounts: $25,000 to $300,000
Income: Not required
Funding: Up to 2 business days
Under $75k: See Prime 50 & 75

Why brokers place seconds here

The second-mortgage file, done properly.

Consolidation that actually helps

A second that clears high-rate consumer debt and lowers the household's monthly obligation is a defensible file. One that simply adds a payment is not, and we will tell you that before your client signs.

Arrears and CRA debt

Property tax arrears, mortgage arrears and CRA balances are workable where there is equity and an exit. They are underwriting facts, not automatic declines.

Speed as the whole point

Second mortgages fund in up to two business days once instructed. If the deadline is the reason the file exists, say so in the submission.

Private second mortgages — common questions

Do I have to pay fees again if the second mortgage is renewed?

Renewals are quoted on the terms available at maturity. We do not re-run a full origination fee structure on a mortgage that has performed — the renewal cost is disclosed in writing before the borrower commits, and your client should never be surprised by it. Ask the desk for the renewal terms on any file before your borrower signs the original commitment.

How high can a second mortgage go?

The ceiling is set by combined loan-to-value across the first and the second together, and it moves with location, credit band and property type. Ontario carries the highest ceilings; British Columbia and Alberta are tighter; condominiums are reduced with a two-bedroom minimum. The Pricing Calculator returns the ceiling that applies to a specific profile.

What if the first mortgage is with a private lender?

Then the file is Flex, not Prime. Flex 2nd is built exactly for that, and it also carries the highest ceilings in the suite.

Is bad credit a decline?

No. Credit sets the band and the price. Below the 600 band a file moves into the Flex family rather than being declined, and files with no established score are underwritten on equity and exit.

Second-charge file that needs to fund this week?

Submit to the desk Compare with Flex 2nd