Private First Mortgage Loans

Key terms

Facility size	$5M–$100M
Security	First registered mortgage
Leverage	Set against independent valuation, asset quality and the exit
Uses	Site acquisition, refinance, residual stock, commercial investment property and business-purpose equity release
Asset classes	Residential, commercial, industrial, hospitality and mixed-use
Borrower	Established company borrowing for business or investment purposes

Common uses

• Site acquisition: funding a purchase ahead of planning or construction
• Refinance: replacing an existing lender at maturity or on a lender exit
• Residual stock: releasing capital from completed, unsold apartments or townhouses while they sell
• Investment property: commercial, industrial and hospitality assets
• Equity release: unlocking equity in held property for the next business project

How we assess a first mortgage

The central questions are what the asset is worth today, how robust that value is in a falling market, and how the loan will be repaid. We rely on an independent valuation, review the asset's income or sales evidence and test the exit against a downside case before setting leverage.

What to send for indicative terms

• Property address and a short project or asset description
• Total development cost or purchase price, and current valuation if held
• Loan amount requested and the position in the capital stack
• Planning status (for example DA approved) and builder, if construction
• The exit: sales, refinance or settlement, with supporting evidence
• Borrower entity and a short summary of the sponsor's track record

Frequently asked questions