Mortgaging your house
with a private lender.

Mortgaging your house

A second mortgage is to obtain additional financing from a different mortgage lender than the first loan. This loan is in addition to the first mortgage and also includes payment obligations. You will therefore continue the payments of the first mortgage while adding the payments of the second.

It is the equity in your property that serves as collateral for the private lender. In the event that you are no longer able to make payments, it will be sold to pay off the first mortgage and then the second mortgage. Since the private lender is repaid in second, it carries more risk, which justifies the higher interest rates of this type of loan.

Why mortgage your house a second time?

You can use a private lender to mortgage your house a second time to avoid paying large penalties from banking institutions. The private mortgage also prove to be an attractive option when you lose your job, it will give you time to put your financial situation back in place without having to divest yourself of your property.

Are you planning to carry out major renovation projects and you do not have sufficient funds? Mortgaging your home a second time may be an option with lower interest rates than taking out a loan elsewhere.

Mortgage your home also presents a solution of choice to consolidate your debts in the same loan, which will allow you to manage a single loan thereafter, at a lower interest rate. Private mortgages are short-term solutions that meet your different needs and allow you to catch your breath.

Clic Hypothèque: The solution to your worries

Mortgaging your home with Clic hypothèque means dealing with a private finance company that is responsive to your requests and offers competitive interest rates. Getting a loan with a banking institution requires having a good credit rating, good income and sufficient funds, whereas with Clic Hypothèque the value of the loan is calculated essentially on the value of your property. Financing at Clic Hypothèque is accessible, even if you have a bad credit history. When doing business with us, you don't have to meet the bank's strict criteria.

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