Second Mortgage in Surrey

Second Mortgage in Surrey, BC

Are you looking for a Second Mortgage in Surrey, that will cater to your needs? Do you have:

Inadequate credit score?
Facing a financial situation?
Income not enough to qualify at the banks
Overbearing repayment schedules?
Facing a long and extensive approval process?
Life situations causing you stress like illness, disability, death of a loved one?

If any of these situations strike a note for you, Lakhvinder Gill – Mortgage Consultant can help! With custom-tailored Mortgage solutions and seamless approvals, our financing experts ensure every borrower’s needs are met.

What is Second Mortgage?

A second mortgage allows you to borrow against property in addition to a primarily mortgaged property already in place by placing a new mortgage in a junior/secondary position. You can secure this mortgage by using your house as collateral and tapping into your property’s equity.

Real estate is essentially a fixed asset. Over time this asset accumulates value. By tapping into your home equity and getting a second mortgage in Surrey you can finance your goals and projects without selling your real estate.

BENEFITS OF TAKING A SECOND MORTGAGE?

Pay for Renovations or Improvements

With this mortgage, you can finance renovations or upgrades of your home. Retrofits and renovations are excellent ways to increase property value. A better-maintained property also generates a higher profit when sold. You can easily use your second mortgage in Surrey as an investment towards your real estate.

Consolidate Debt

Getting a second mortgage in Canada is a strategy that you can use to consolidate all your debt. Any liabilities, such as lines of credit, car loans and credit cards, can be paid off with debt consolidation. You can group all your debts into one monthly payment. With a lower interest rate and easier payments, your debts are reduced, resulting in more cash flow and can boost your credit score.

Business Investment

Did your bank say NO to your business application or looking for alternative business loan options? If so, pulling equity via a mortgage can help. It can be a great way for you to access funds from your other real estate holdings. Use these funds to invest in your business or start a new business.

Investment Income

By tapping into your equity, you can create an additional revenue stream for yourself and your family. Using your equity, a mortgage can be used to purchase an investment property, invest in stocks, purchase land, buy a vacation home or fund other investments. This can be a great opportunity for borrowers looking to expand their financial portfolios.

Daily Expenses

If you have high day to day expenses, a mortgage can be the solution you need. With a private mortgage, you can cover your daily expenses with ease. Overcome high interest rates, stressful debts, and hard-to-meet financial obligations.

Improve your Credit Score

High Debt and past due bills can negatively impact your credit score. This can make it hard to qualify for a mortgage. If you have a bad credit history or a low credit score because of debt, we have some solutions. Getting a 2nd mortgage and paying off high interest debt can build your credit and eradicate any liabilities negatively impacting your credit score.

How is Lakhvinder Gill – Mortgage Consultant Different?

Nowadays, conventional banks are very rigorous in their mortgage process. A conventional bank bases its approval on two criteria: income and credit. This causes limitations of how much you are approved for and restrictive lending offerings.

At Lakhvinder Gill – Mortgage Consultant, we offer lending options to our clients that conventional banks are unable to help with. Our clients and their needs are our topmost priority.