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Private Lender Finance · Australia-Wide
Private lender business mortgages — 1st and 2nd mortgage finance from 6.69% p.a.
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Reviewed by Michael Russell, Managing Director & Senior Finance Broker
ACL 561258 · FBAA Accredited · Last updated August 2026."
Quick Answer Private lender 1st and 2nd mortgages fund business scenarios mainstream banks won't: short settlement timeframes, non-conforming security, or an existing bank mortgage already in place (2nd mortgage). On Finwave's panel, rates run from 6.69% p.a. to 24% p.a., depending on mortgage position, security and exit strategy — higher than bank finance, but settlement can happen in days, not weeks.
Bank can't move fast enough? Security that doesn't fit mainstream policy? Need a 2nd mortgage without disturbing your existing bank loan? Finwave arranges private lender 1st and 2nd mortgage finance across a panel of private lenders who assess the deal, not just the checklist.
• Rates 6.69% – 24% p.a.*
• Settlement in days, not weeks
• 1st & 2nd mortgage positions
• Zero credit impact at quote
• FBAA accredited · ACL 561258
*Indicative rates current as at July 2026, depending on mortgage position, security and exit strategy.
The Basics
1st vs 2nd mortgage — what's the difference?
QUICK ANSWER · A 1st mortgage is the primary charge on a property — repaid first if the property is sold or the borrower defaults. A 2nd mortgage sits behind an existing 1st mortgage (usually a bank) already registered on the same property, repaid only after the 1st mortgage is satisfied. That extra risk is why 2nd mortgages price toward the top of the 6.69%–24% p.a. range.
A 1st mortgage through a private lender is used when a bank either won't lend on the security at all, or can't move on the timeframe the deal needs. A 2nd mortgage lets you access equity without refinancing or disturbing your existing 1st mortgage — useful when your current bank loan has a good rate or an early-exit penalty you don't want to trigger.
Private lenders assess these deals differently to banks: the focus is on the security's value and a credible exit strategy — sale, refinance, or project completion — rather than purely on serviceability metrics run through a bank credit committee. That's what allows settlement in days rather than the weeks a standard bank mortgage approval takes.
Private lender and 2nd mortgage finance carries materially higher rates than bank finance and isn't the right tool for every borrower or every purpose — it's typically a short-to-medium-term bridge (commonly 1 month to 2 years), not a long-term structure. Speak with your accountant or financial adviser alongside our team before proceeding.
When It Makes Sense
Six scenarios where a private lender mortgage is the right tool
QUICK ANSWER · Private lender mortgages make sense when speed, security type, or mortgage position rule out a bank — tight settlement deadlines, non-conforming property, an existing 1st mortgage you don't want to disturb, or a time-critical opportunity a bank's timeline can't accommodate.
Settlement deadline a bank can't meet
Contract due to settle in days, not the weeks a bank mortgage approval typically takes. Private lenders can move fast when the security and exit strategy are clear.
Non-conforming security
Property type, condition, or location that doesn't fit mainstream bank policy — private lenders assess the actual security value, not just a policy checklist.
Keep your existing 1st mortgage in place
A 2nd mortgage releases equity without refinancing a 1st mortgage that has a good rate or an early-exit penalty you don't want to trigger.
Time-critical opportunity
A deal, an asset, or an acquisition that won't wait for a bank's assessment timeline — private lender finance bridges the gap.
Paying out a tax debt or judgment
Resolving an ATO debt or judgment quickly, before it escalates, using property equity as security rather than waiting on a slower structure.
Bridging to a longer-term structure
Short-term funding while a property sale, refinance, or project completes, with the private mortgage repaid once the longer-term plan lands.
Why Finwave
Why arrange your private lender mortgage through Finwave?
QUICK ANSWER · Finwave compares private lenders on your behalf, not just one — matching mortgage position, security type and required timeframe to the lender most likely to approve and settle fast, with commission disclosed upfront and no cost to you if the deal doesn't proceed.
We compare private lenders, not just one
Private lender policy on security type, LVR and exit strategy varies enormously. We match your deal to the lender most likely to approve it, fast.
One soft credit check
Shortlisting lenders doesn't create a hard enquiry on your file. A formal enquiry only happens with the lender you choose to proceed with.
Clear on the trade-offs
Private lender finance is higher-rate, short-term finance — we'll tell you honestly whether it's the right tool for your situation, not just sell you the facility.
We manage the process end to end
Valuation coordination, documentation, and liaison with the lender's solicitor — we handle the moving parts so settlement stays on track.
Broader business finance if this isn't the fit
If a private mortgage isn't the right structure, we'll tell you and point you to unsecured, secured, or another facility on our business loans panel.
Paid by the lender, not by you
Finwave is remunerated by the lender at settlement, fully disclosed in your Credit Guide before you proceed. ACL 561258. No upfront fees.
Michael was a positive and proactive team member, he was easy to talk too and answered all of my questions and queries with ease. The communication was second to none buy phone and other correspondence. I would encourage anyone else to make contact for a professional and easy purchase for any buyer
— Cris S
How It Works
How a private lender mortgage comes together
QUICK ANSWER · Tell us the security, the purpose, and your timeframe. We shortlist private lenders the same business day. A valuation and terms follow within days. Funds can settle inside a week for straightforward matters, once documentation and any existing mortgage consent are in place.
Tell us the deal
Security, purpose, mortgage position (1st or 2nd), and your timeframe.
Same day
We shortlist private lenders
Soft credit check only. We match your deal to lenders likely to approve it on your timeframe.
1–2 business days
Valuation & terms
Lender arranges (or accepts) a valuation and issues indicative terms for your review.
Days, not weeks
Documentation & settlement
We coordinate with the lender's solicitor and any existing mortgagee consent required, through to settlement.
Per deal complexity
Private Mortgage FAQs
Private lender mortgage FAQs — straight answers
Eight of the questions we hear most often about private lender 1st and 2nd mortgage finance. Every answer reflects current lender policy as at July 2026.
Credentials & Reviews
Why Australian businesses trust Finwave for private lender finance
• FBAA accredited brokers
• 10+ years experience
• 80+ lenders on panel
• 5.0 from 130+ Google reviews
• 217 Flinders St, Adelaide
Joe Innes was extremely knowledgeable and helped us with a facility that fits perfectly our needs. He went above and beyond regarding communication with the lender and we managed to get it through quickly even with holidays in between. Thank you Finwave 🙏🏼
Charles D.
Michael was a positive and proactive team member, he was easy to talk too and answered all of my questions and queries with ease. The communication was second to none buy phone and other correspondence. I would encourage anyone else to make contact for a professional and easy purchase for any buyer
Cris S.
I just wanted to say thank you to Joe, who has really helped me out to get me my business loan, Joe is a very good person, very kind and very respectful, Thank you Joe, I really appreciate what you have done for me
Gisma R.
Michael Russell — Managing Director & Senior Finance Broker
Australian Credit Licence (ACL) 561258 · FBAA Accredited · 10+ years in Australian lending and credit
Michael leads Finwave’s broker team from Adelaide, with over a decade of experience arranging finance for Australian businesses — including private lender 1st and 2nd mortgages for time-critical settlements, non-conforming security, and bridging scenarios mainstream banks won’t fund on the required timeframe. He has structured private lender finance for businesses across SA, QLD, NSW, VIC, WA and TAS, matching each deal’s security and exit strategy to the lender most likely to approve it fast.
Mortgage Brokers, Accountants & Solicitors
Mortgage broker, accountant, or conveyancer?
If you regularly see clients with time-critical settlements, non-conforming security, or a need to raise funds without disturbing an existing 1st mortgage — partner with an independent broker who moves fast and keeps you informed. Transparent commissions, no policy bias.
About Finwave Financial Services
Finwave Financial Services Pty Ltd is a licensed, independent Australian credit broker operating under Australian Credit Licence (ACL) 561258, issued by ASIC. Based at 217 Flinders Street, Adelaide SA 5000, we arrange private lender 1st and 2nd mortgage finance for Australian businesses alongside our broader panel of 80+ banks and non-bank lenders covering unsecured loans, secured loans, and invoice finance.
As an independent broker, we are not aligned to any single lender, and we are remunerated by the lender only on successful settlement. Our commission is fully disclosed in your Credit Guide before you proceed, and never inflates your interest rate.
All credit assessments are subject to individual lender approval criteria. Finwave does not guarantee loan approval or any specific interest rate. Information on this page is general in nature and does not constitute financial product advice. Consult a qualified accountant or financial adviser before entering into any credit arrangement.
• Australian Credit Licence: ACL 561258
• FBAA Member — Finance Brokers Association of Australia
• Managing Director — 10+ years lending experience
• 217 Flinders Street, Adelaide SA 5000
• 80+ lenders on panel, independent and not bank-aligned
• Remunerated by lenders at settlement only. No upfront fees.
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