Unlock Equity
With A Smarter Second Mortgage
An Australian first, access your home equity on your terms with Midkey.
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Meet Midkey
A modern alternative to traditional second mortgages
For many Australians, the family home is their biggest asset. When plans change or unexpected expenses arise, accessing equity without selling can become a priority.
Traditional second mortgages can provide access to that equity, but typically require ongoing monthly payments, have higher servicing requirements and may require repayment in as little as one or two years. This can reduce flexibility and add pressure to household cash flow.
That’s where Midkey is different.
Midkey vs traditional second mortgages
Discover the differences between a traditional second mortgage and a Midkey loan.
Traditional
Second
Mortgage
Monthly payments
No monthly payments
Usually require regular payments
Interest
Lower simple interest rate that isn't payable until the end of the loan
Often charge a higher interest rate
Loan term
No fixed loan term. Repaid following the sale of your property or in the event of certain repayment triggers*
Often have a fixed loan term, typically around one to two years
Deferral Fee
Includes a Deferral Fee, which is a share of any
increase in your home’s Agreed Initial Value
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Regulated
Yes. NCCP Compliant
Many second mortgages are unregulated
Loan-to-Value Ratio
(LVR)
Offers second-mortgage lending of up to 30%, with a maximum combined LVR of 80%^
Varies by lender and structure
*Repayment triggers for your Midkey loan are included in your contract. The loan will need to be repaid if you default, if you increase your priority mortgage, if the LVR of your property exceeds 100%, if you move into an aged care, or if you die.
^The total LVR of your property, including the outstanding balance of any loan secured by a first ranking mortgage, cannot exceed 80% for owner occupied properties, or 75% for investment properties and apartments.
See if Midkey is right for you
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Property Type
Owner-occupied house
Investment house
Apartments
Apartments/units must be in a complex of no greater than 20, be more than 12 months old, and have a minimum internal floor space of 50sqm.
Sufficient Equity
You must have at least 20% usable equity in your owner-occupied house, or 25% for an investment house or apartment.
Usable equity is the portion of your property’s Agreed Initial Value that remains after subtracting any loan amount currently secured against your property.
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Type of Home Loan
If you have an existing mortgage, it must be a standard ‘principal plus interest’ home loan.
Australian Citizenship
You are an Australian citizen over the age of 18.
Final Approval
Your application is subject to Midkey’s loan assessment and final approval.
What makes Midkey better?
Not all loans are created equal. Explore how Midkey offers a smarter, more flexible way to unlock your home’s value.
Traditional Home Mortgage
Reverse Mortgage
Unregulated Loans
Bridging
Loans
No monthly payments
Looks at more than just your income
Long/no loan term
Available in addition to an existing mortgage
Welcomes a broad range of borrowers (18+)
Simple* accruing interest
Cheaper loan option
*Click here to learn more about ‘simple vs compounding’ interest.
Availability depends on lender and loan terms.
Trusted by borrowers
across Australia
Hear from Australians who made the Midkey move. Check out our latest Trustpilot reviews.
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"Midkey's entry has provided a truly innovative product, that not only allows homeowners to tap into their home equity but with no monthly payments. For me, Midkey helped me to pay off outstanding debts, improve cashflow at a time of rising rates and attend to much needed home renovation. Without hesitation, I highly recommend Midkey for its innovative home loan products and incredible customer service."
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Daniel - Balmain East, NSW
12 October 2023
"Midkey and Amanda are an amazing company to deal with, from start to finish. Amanda was professional. She explained everything about the product. If you are an older person nearing retirement and have equity in your home that you can’t access because the banks don’t want to know you, then this product could be for you. They worked with us from the beginning to achieve the end result we were after. Thank you Midkey for making our life so much better."
Denise D - Kirkham, NSW
12 September 2024
“Midkey and Amanda were superb. Midkey is meeting a gap in the market for home finance which the banks ignore older people with home equity. It is a national tragedy that people over 55 struggle to get housing finance, especially those that are self-employed including in the professions. Amanda was supremely helpful and pleasant and knowledgeable to deal with.”
Dr David Millhouse - Spring Hill, QLD
10 July 2024
"Amanda Hall, as the rep for Midkey, was nothing other than amazing to deal with. Not only is the product Midkey offers amazingly suitable for homeowners who have built up equity in their home, but their customer service is also incredible. Amanda listened to what we wanted to achieve from the process; clear debt and prepare for our upcoming wedding, and she made it happen in a seamless manner. I can't speak highly enough of Amanda and the product Midkey offer."
David - Labrador, QLD
17 June 2024
"My wife and I were at a loss as to how to afford our dream home, in a high-interest rate environment, being somewhat equity rich but cash poor. When a close friend introduced us to Midkey, we were delighted when Richard Young and Amanda Hall outlined how we could comfortably afford our dream home. Better still, without regular, ongoing repayments, but by accessing our home’s future equity uplift. It’s a modern, win-win product from a group of genuinely good people at a small, financially innovative company - Midkey. We’re sincerely grateful."
Stuart - Clontarf, NSW
2 December 2023
"Midkey provided an amazing financing solution that enabled us to use equity in our home to help improve our cashflow. Their process was easy and turnaround time amazing! Amanda Hall needs special mention."
Raja Ratnam - Cooks Hill, NSW
15 Jan 2024
Frequently asked questions
Take a look at the most commonly asked questions.
What is a second mortgage?
How is a Midkey loan different from a traditional home loan?
Does a Midkey loan contain a no-negative equity guarantee?
Who is Midkey suitable for?
It’s simple. We’re here to help, whenever you’re ready.
Take your time, we’ll be here with helpful tools whenever you’re ready to act.
Or call us on 1300 643 539. No pressure, just help.
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