2 states
one coordinated facility
Second mortgages over Western Australian security are notoriously hard to place. Running both securities as one package — and pre-solving the WA execution quirks — got it funded on time.
A capital-raise requirement secured against two properties in two states — 3 Gallery Court, Shepparton in Victoria, and 101B Amherst Road, Canning Vale in Western Australia, the latter sitting behind an existing ANZ first mortgage.
Second mortgages over Western Australian security are notoriously hard to place; most non-bank second-mortgage lenders simply will not take WA. The candid response from one funder mid-negotiation was "I'm not sure I'll be able to get a second in WA!!" — and from another party, "it is difficult to obtain second mortgages for WA properties, however we are seeking indulgences from our lenders."
We ran the two securities as one coordinated package rather than two separate requests: a July 2025 sworn valuation on the Shepparton property at $550,000, current rates, land tax and water notices for both properties, trust deed verification, first-mortgagee priority amounts confirmed with ANZ, and instructions to the lender's solicitors to prepare a WA-compliant deed of priority. We also built the WA execution quirk into the settlement timetable up front — WA requires wet-ink signatures, which adds days most timelines do not allow for.
The facility was placed and settled inside the target window, with the WA wet-signature requirement and interstate priority deed handled without derailing the timetable.
"That can't be done" usually means "that can't be done the standard way." Knowing which funders will consider interstate second mortgages — and pre-solving the mechanical problems before they hit the settlement date — is the difference between a declined file and a funded one.
This case study is a representative example. Full details and figures are available on request — get in touch to discuss a comparable structure for your project.