Skip to content
lienhouse

Second mortgages

How long does a business second mortgage take to settle?

Updated Sept 2026 · Reviewed by The Lienhouse team

Typically one to three weeks. Indicative terms come back in a day or two, the valuation takes several days, documents a few more, and registration is quick. The step that stretches the timeline is the first mortgagee's consent and deed of priority, which can take anywhere from a few days to several weeks. Where there is no time for that, a caveat loan can bridge until the second mortgage settles.

Key takeaway
Allow one to three weeks for a business second mortgage; valuation and documents take days, and the first mortgagee's consent is the step that decides whether it is one week or four.

Want terms on your version of this?

Two boxes now, the rest on the form below. No cost, no obligation.

The overall speed of asset-secured lending is covered in how fast can you settle. A second mortgage has one step a caveat loan does not, and that step is outside the borrower’s and the lender’s control.

The timeline, step by step

StepTypical timeWho controls it
Enquiry to indicative terms1 to 2 daysLender
Valuation2 to 7 business days, longer regionallyValuer, and property access
Formal approval and documents2 to 4 daysLender and its solicitor
Independent legal advice and signing1 to 3 daysBorrower and guarantors
First mortgagee consent and deed of priority3 days to 4 weeksThe bank
Settlement and registration1 to 2 daysBoth solicitors

Several of these run in parallel. The valuation, the consent request and the document preparation should all start at once.

Why the bank is the variable

The first mortgagee has no commercial reason to hurry. Its consent team works through a queue, its form of deed of priority may need negotiation over the priority amount, and a relationship manager who is unaware of the request can add days. Borrowers who call their banker before the request arrives get faster answers than those who let it land cold.

What slows everything else

  • A trust deed or variation that cannot be found.
  • A director overseas when documents need signing.
  • A tenant who will not give the valuer access.
  • A first mortgage statement that has to be posted.
  • Rates or land tax arrears that show up on searches and have to be cleared.

When the deadline is sooner

If the money is needed in days, not weeks, there are two approaches. A caveat loan on its own, if the need is short. Or a caveat loan now and a second mortgage in parallel, with the second mortgage paying out the caveat when it settles. The second route costs an extra set of fees, and it is worth it only when the deadline is real and the funds are needed for longer than a caveat loan comfortably runs. See caveat loan vs second mortgage.

Need this now?

We match you with a funder and email you their introduction. Reply to it and they’ll be in touch.

Get matched with a funder

FAQ

Can a second mortgage settle in under a week?

Yes, where a recent valuation exists, the signatories are available, and the first mortgagee consents quickly or consent is not being sought.

What can I do to speed it up?

Supply the rates notice, first mortgage statement, entity documents and ID at enquiry, give the valuer immediate access, and ask your banker about consent on day one.

What if I need funds before the second mortgage can settle?

A short caveat loan can provide funds in days and be repaid from the second mortgage when it settles, at the cost of two sets of fees.

Enquire

Tell us your deadline.

The amount, the asset and the timeframe. We’ll match you with a funder and email you their introduction. Reply to it and they’ll be in touch.

By sending this you agree to our privacy policy. We match your enquiry with a funder and email you their introduction; your details stay with us until you reply to it.