HOW A FIRST MORTGAGE WORKS
A first mortgage gives the lender the highest-ranking registered interest over the property used as security. With no other mortgage ranking ahead of it, this can provide a straightforward way to access property-backed funding for a range of approved business and investment purposes.
A first mortgage loan for commercial use can support business owners, investors and developers across a wide range of commercial funding needs. Whether you are seeking finance directly or presenting a scenario on behalf of a client, Pronto Funds assesses each application on its individual merits, with a focus on the available security, funding purpose and a clear exit strategy.
HOW FIRST REGISTERED MORTGAGE FINANCE CAN ASSIST
First registered mortgage finance can be used to purchase commercial property, refinance existing debt or unlock available property equity for approved business or investment purposes.
For borrowers and brokers presenting time-sensitive or complex scenarios, Pronto Funds can consider transactions that may fall outside traditional lending criteria. As a direct private lender, we assess each scenario on its individual merits and provide clear guidance on what is required to progress the application.
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LOAN SPECIFICATIONS
Loan Feature | Details |
Loan Amount | $200,000 to $10 million |
Loan Term | 1 to 12 months |
Maximum LVR | Up to 85% |
Security | Residential, commercial or other eligible real estate |
Loan Position | First or second mortgage |
Indicative Decision | Within 24 hours |
Settlement | Ability to settle within 48 hours |
Rates | From 1.2% per month |
FIRST MORTGAGE BUSINESS LOAN FOR SHORT-TERM FUNDING NEEDS
A bridging loan with 1st mortgage security can provide short-term funding while a property sale, refinance or other defined source of repayment is being completed. It can help business owners, investors and developers move forward with an acquisition, meet an upcoming settlement or access capital while another transaction progresses.
Whether you are seeking funding directly or presenting a scenario on behalf of a client, Pronto Funds provides direct access to the team assessing and funding the transaction. We consider the available property equity, funding purpose and proposed exit strategy, with clear requirements and responsive communication to help progress suitable applications towards settlement.
COMPARING FIRST AND SECOND MORTGAGE POSITIONS
The key difference between first and second mortgage loans is their order of priority over the property used as security. A first registered mortgage holds the primary position, providing a straightforward way to access funding against available property equity without another mortgage ranking ahead of it. A second mortgage is registered behind an existing first-ranking lender, allowing the existing first mortgage to remain in place.
The appropriate position will depend on the existing finance, available property equity and funding requirement. For borrowers and brokers presenting a scenario, Pronto Funds can assess the overall transaction and determine whether a first or second mortgage position may provide the most appropriate funding solution.
A DIRECT PATH TO A LENDING DECISION
Pronto Funds provides borrowers and brokers with direct access to the team assessing and funding the transaction. This means faster communication, clear requirements and the ability to work through questions or outstanding information directly with the lender.
From initial scenario through to settlement, we keep the process straightforward and provide clear guidance on what is required to progress the application.
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f.a.q.
Frequently Asking Questions
What is a first registered mortgage?
A first registered mortgage is a loan secured against property where the lender holds the primary mortgage position. This gives the lender priority over any later-ranking mortgages or other registered interests, subject to applicable laws and any other priority interests.
Can I get a first registered mortgage through a private lender?
Yes. Pronto Funds provides first registered mortgage loans secured against eligible real estate for approved business and investment purposes. As a direct private lender, we assess each application on its individual merits, considering the available security, funding purpose, requested amount and proposed exit strategy.
What are the benefits of a first registered mortgage?
A 1st registered mortgage provides access to property-backed funding for purchases, refinancing, equity release and other approved commercial purposes. It can also support faster assessment, tailored loan terms and clearer decision-making, allowing borrowers to access available property equity for a range of business and investment needs.
Can brokers submit first registered mortgage applications?
Yes. Finance brokers can submit first mortgage scenarios directly to Pronto Funds and communicate with the team assessing and funding the transaction. We provide clear requirements, responsive communication and direct access to the lender throughout the process, helping brokers progress suitable client scenarios towards settlement.