A second person has been found dead after police were able to search the wreckage of a home in Lake Macquarie, a day after a fire destroyed the apartment and killed another person on Thursday morning.

Fire and rescue crews raced to put out the blaze in Teralba, near Newcastle, around 4am on Thursday.

The unit sustained “significant damage” according to police, and after extinguishing the blaze, one person was found dead and another person missing.

Two people were unaccounted for at the time of the fire. Both have since been found dead. (Nine)

Police and fire crews were unable to enter the apartment immediately, due to the weakened structure of the unit.

Yesterday, police were able to enter the unit and conduct a more thorough search, where the missing second person was found dead.

Both victims of the blaze are yet to be formally identified.

Police are continuing to assess the stability of the building before they can forensically examine the scene.

Inquiries into the cause of the fire are ongoing.

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