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home | services | caveat & second mortgages Caveat & Second Mortgages This form of finance is usually a short term loan of less than 6 months' duration. It may be useful if, for example, you are subject to a "notice to compete", that is, the time has come to settle your home or investment purchase and you have not organised finance, or your lender cannot meet settlement deadlines, and you are at risk of losing your deposit. Loan set-up costs, early termination fees and interest rates are substantially higher with this form of finance than with conforming credit. CLS will only pursue this form of finance at the request of the borrower, when the borrower has exhausted all other means.
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