60-second quiz
First, second or caveat?
Five quick questions about your property, timing and exit — and you'll see which secured structure is most likely to fit.
How the quiz decides
Three things drive the choice of secured structure: whether there's already a loan on the property, how quickly the money is needed and how long it's needed for. A debt-free property and a horizon of a year or two point to a private first mortgage. An existing bank loan you'd rather keep points to a second mortgage. A short, urgent need — days rather than weeks, repaid within months — is where a caveat loan shines.
The exit matters too. A sale or a bank refinance at the end is the most common way private secured loans are repaid, and lenders want to see that the timing of the exit matches the term. If the bank loan itself is the problem, refinancing it into a private first mortgage can give you one lender, one set of terms and room to fix whatever caused the bank to step back.
For a full comparison, read first mortgage vs second mortgage vs caveat. When you're ready, start your enquiry — no credit check to ask, and one direct lender, not a crowd.
Frequently asked questions
What's the main difference between the three structures?
Where the lender sits on your title. A first mortgage is first in line, a second mortgage is behind an existing first mortgage, and a caveat loan is protected by a caveat lodged on the title rather than a registered mortgage. Position affects how much you can borrow, how fast it can happen and how it's priced.
Why would anyone choose a caveat loan?
Speed and simplicity. A caveat can be lodged quickly, so it suits short, urgent needs with a clear exit. It can later be converted to a registered second mortgage if you need longer.
Is a second mortgage always more expensive than a first?
It generally costs more, because the second lender ranks behind the first and carries more risk. Against that, keeping a cheap bank loan in place can make the total cost lower than refinancing everything.
Can I change structure later?
Often, yes. A caveat loan can convert to a registered second mortgage, and a private first mortgage can be refinanced to a bank once the reason for using a private lender has passed.
Is the quiz result binding?
No. It's a starting point. A specialist will confirm the best structure once they understand the property, the purpose and your exit.
See what your business could qualify for
One short enquiry, no credit check when you first enquire, and a real person who calls you back with options that fit.
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