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Asset types

Residential: Secured loans for which the principal secured property is residential property.

Commercial: Secured loans for which the principal secured property is commercial property.

Rural: Secured loans for which the principal secured property is rural property.

Top 3 reasons for lending:

  • Equity release for business purposes.

  • Purchase of security asset.

  • Refinance existing debt + top up from another lender.

$1,400,000

Average investment per investor

$460,000

Average loan size

44%

Current Portfolio LVR

$1,070,000

Average investment per investor

$530,000

Average loan size

43%

Current Portfolio LVR

Portfolio

Flat Bush, Auckland

Flat Bush, Auckland

First mortgage security

Security description: Circa 120m² residential home, on circa 640m² of freehold land

CV: $1,100,000

Loan request: $596,800

Loan to value ratio (LVR): 54%

Term: 12 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Refinance the current lender

Exit strategy: Refinance to the main bank to repay the debt once borrower’s accounts are ready

Takaka, Tasman

Takaka, Tasman

First mortgage security

Security description: Large residential home, on circa 1,240m² of freehold land

Purchase price: $365,000

Loan request: $100,000

Loan to value ratio (LVR): 27%

Term: 12 months

Interest rate: 12%p.a. paid monthly in arrears

Purpose of funds: Funds are being used to build an additional tiny home on the security property

Exit strategy: Refinance to main bank to repay the debt upon completion of the tiny home

Westgate, Auckland

Westgate, Auckland

First mortgage security

Security description: Freehold section with a land area of circa 200m² (Land only)

CV: $565,000

Loan request: $162,600

Loan to value ratio (LVR): 29%

Term: 12 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Equity release for business purposes

Exit strategy: Sale of the security asset to repay the debt

Richmond, Tasman

Richmond, Tasman

First mortgage security

Security description: Large residential home built in 2020, with a floor area of circa 210m². Located on circa 550m² of freehold land

CV: $850,000

Loan request: $159,600

Loan to value ratio (LVR): 19%

Term: 12 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Equity release for business purposes

Exit strategy: Sell the security asset to repay the debt

Mangere, Auckland

Mangere, Auckland

First mortgage security

Security description: Circa 160m² residential home, on circa 450m² of freehold land

CV: $910,000

Loan request: $514,990

Loan to value ratio (LVR): 57%

Term: 6 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Refinance existing debt from borrower’s current lender

Exit strategy: Refinance to a main bank once accounts are ready, prior to the end of the loan term

New Brighton, Christchurch

New Brighton, Christchurch

First mortgage security

Security description: Circa 460m² commercial building, on circa 2330m² of freehold land

Land value: $1,300,000

Loan request: $534,600

Loan to value ratio (LVR): 41%

Term: 12 months

Interest rate: 12%p.a. paid monthly in arrears

Purpose of funds: Funds are being used to settle the purchase of a lifestyle section

Exit strategy: Refinance the debt to a main bank

Pokeno, Auckland

Pokeno, Auckland

First mortgage security

Security description: Freehold Section, circa 490m². All services on site ready to build

Valuation: $375,000

Loan request: $221,000

Loan to value ratio (LVR): 59%

Term: 12 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Residual stock lending post title issue from development lender

Exit strategy: Sale of the property

Cockle Bay, Auckland

Cockle Bay, Auckland

First mortgage security

Security description: Circa 600m² freehold section (land only)

CV: $900,000

Loan request: $321,504

Loan to value ratio (LVR): 36%

Term: 12 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: The borrower will fund the construction of a new build dwelling on the section

Exit strategy: Sale of the property once construction is complete

Papatoetoe, Auckland

Papatoetoe, Auckland

First mortgage security

Security description: Residential unit with a floor area of circa 90m² on a cross-lease title

Purchase price: $450,000

Loan request: $256,500

Loan to value ratio (LVR): 57%

Term: 12 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Funds are being used to purchase the security asset

Exit strategy: The borrower will renovate the security asset before selling to repay the debt

Cambridge, Waikato

Cambridge, Waikato

First mortgage security

Security description: Circa 130m², large fully renovated residential home

CV: $795,000

Loan request: $459,000

Loan to value ratio (LVR): 58%

Term: 10 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Funds used to settle the purchase of the property

Exit strategy: Put tenants in then refinance to main bank after 6 months consistent cash flow

Mangere East, Auckland

Mangere East, Auckland

First mortgage security

Security description: A large residential home with a one bedroom, one bathroom dwelling onsite, totalling a combined area of 130m², on circa 680m² of freehold land

CV: $1,125,000

Loan request: $549,700

Loan to value ratio (LVR): 49%

Term: 6 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Funds to be used to settle the balance of the purchase

Exit strategy: Borrower will renovate the property and on-sell for profit

Te Kauwhata, Mangateparu and Tahuna, Morrinsville

Te Kauwhata, Mangateparu and Tahuna, Morrinsville

First mortgage security

Security description: Property 1: Industrial shed on circa 2,750m² of freehold land. Property 2: Residential dwelling on 8ha of freehold land. Property 3: Residential dwelling on circa 8,000m² of freehold land

Combined asset value: $4,001,500

Loan request: $2,114,258

Loan to value ratio (LVR): 53%

Term: 12 months

Interest rate: 12%p.a. paid monthly in arrears

Purpose of funds: Funds are being used to settle the purchase of property two

Exit strategy: Sale of the other security properties to reduce debt amount, before refinancing the balance to a bank or long term lender

Papakura, Auckland

Papakura, Auckland

First mortgage security

Security description: Large 120m² residential home

CV: $720,000

Loan advance: $350,000

Loan to value ratio (LVR): 49%

Term: 6 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Funds to be used to settle property

Exit strategy: Sale of the security property to repay the debt

Glenfield, Auckland

Glenfield, Auckland

First mortgage security

Security description: 600m² commercial building, concrete block construction

CV: $1,975,000

Loan request: $973,000

Loan to value ratio (LVR): 49%

Term: 24 months

Interest rate: 12%p.a. paid monthly in arrears

Purpose of funds: Refinance the current lender

Exit strategy: Sell the security in 2025

Birkdale, Auckland

Birkdale, Auckland

First mortgage security

Security description: Residential home with a floor area of 180m², on circa 660m² of freehold land

CV: $1,150,000

Loan request: $586,250

Loan to value ratio (LVR): 51%

Term: 12 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Equity release for business purposes

Exit strategy: Sale of security asset

Matakohe, Northland

Matakohe, Northland

First mortgage security

Security description: Two dwellings, on a combined floor area of 350m². This is across three freehold titles comprising 166ha land

Purchase price: $3,000,000

Loan request: $1,031,000

Loan to value ratio (LVR): 34%

Term: 12 months

Interest rate: 12%p.a. paid monthly in arrears

Purpose of funds: Equity Release to subdivide into smaller lifestyle blocks

Exit strategy: Sale of the individual lifestyle blocks to repay debt

Hamilton/Northland

Hamilton/Northland

First mortgage security

Security description: Two high-end lifestyle properties in Hamilton and a residential property in Northland

Combined CV: $3,470,000

Loan advance: $1,160,100

Loan to value ratio (LVR): 33%

Term: 12 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Funds required to purchase the security asset in Northland

Exit strategy: Sale of security properties once the renovations are complete

Waihi Beach

Waihi Beach

First mortgage security

Security description: Residential home on circa 510m² of freehold land

CV: $900,000

Loan request: $258,500

Loan to value ratio (LVR): 29%

Term: 18 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Funds are being used as an equity release for business purposes

Exit strategy: Refinance the security asset to a bank to repay the debt

Grey Lynn, Auckland

Grey Lynn, Auckland

First mortgage security

Security description: Commercial office unit, floor area of 42m² owner occupied business

CV: $480,000

Loan advance: $230,000

Loan to value ratio (LVR): 48%

Term: 6 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Equity release for borrower to use for business cash flow

Exit strategy: Sale of the property. Borrower will stay on as tenant to lease from the new owner

Central Dunedin

Central Dunedin

First mortgage security

Security description: 25 bedroom boarding house on 549m² of land. Rental income of $267,000p.a.

CV: $2,140,000

Loan advance: $804,800

Loan to value ratio (LVR): 38%

Term: 12 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Renovation costs to increase rental income

Exit strategy: Refinance to main bank with updated cash flow

Kawakawa, Northland

Kawakawa, Northland

First mortgage security

Security description: 112m² residential home built in 1970's on 2,034m² of freehold land

CV: $480,000

Loan advance: $164,500

Loan to value ratio (LVR): 34%

Term: 12 months

Interest rate: 12%p.a. paid monthly in arrears

Purpose of funds: Refinance existing loan plus top-up for renovation costs

Exit strategy: Sell property once renovation is completed

Gate Pa, Tauranga

Gate Pa, Tauranga

First mortgage security

Security description: Three bedroom 105m² dwelling on 809m² of freehold land

Purchase price: $820,000

Loan advance: $488,800

Loan to value ratio (LVR): 60%

Term: 12 months

Interest rate: 11%p.a. paid monthly in arrears 

Purpose of funds: Settle the purchase plus soft costs for resource consent

Exit strategy: Refinance to construction lender to complete development

Saint Andrews, Hamilton

Saint Andrews, Hamilton

First mortgage security

Security description: 150m² brick and tile home on freehold 446m² section

CV: $850,000

Loan advance: $108,000

Loan to value ratio (LVR): 13%

Term: 12 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Equity release for renovation costs

Exit strategy: Sell property once renovation is completed

Unsworth Heights, Auckland

Unsworth Heights, Auckland

First mortgage security

Security description: 140m² two level home on two level home on freehold 609m² section

CV: $1,050,000

Loan advance: $590,000

Loan to value ratio (LVR): 56%

Term: 12 months

Interest rate: 11%p.a. paid monthly in arrears 

Purpose of funds: Extend existing loan plus top-up for development soft costs

Exit strategy: Refinance to construction lender once consent is issued for development

Te Atatu South & Westgate, Auckland

Te Atatu South & Westgate, Auckland

First mortgage across two securities

Security description: 213sqm house on 450sqm of freehold land and 127sqm three bedroom home on 257sqm freehold land

Combined CV: $1,770,000

Loan advance: $580,000

Loan to value ratio (LVR): 33%

Term: 6 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Balance of funds to settle purchase of the Te Atatu South property

Exit strategy: Borrower will renovate the Te Atatu South property and on-sell profit

Grey Lynn, Auckland

Grey Lynn, Auckland

First mortgage security

Security description: 119sqm three bed 1910s home on freehold 407sqm land

CV: $2,325,000

Loan advance: $683,000

Loan to value ratio (LVR): 29%

Term: 12 months

Interest rate: 11%p.a. capitalised (11.57% total)

Purpose of funds: Refinance existing mortgage and equity release for three unit development consenting process 

Exit strategy: Refinance to construction lender once resource and building consent approved

Temple View, Hamilton

Temple View, Hamilton

First mortgage secuirty

Security description: 512sqm five bedroom home on 2.1ha of freehold land

CV: $1,930,000

Loan advance: $426,000

Loan to value ratio (LVR): 22%

Term: 12 months

Interest rate: 11%p.a. capitalised (11.57% total)

Purpose of funds: Equity release for cash flow use in the borrower's business

Exit strategy: Refinance via main bank with improved business financials in 12 months

Sunnyvale, Auckland

Sunnyvale, Auckland

First mortgage security

Security description: Near-new three bedroom, two bathroom 110m² home on 316m² freehold section

Registered valuation: $840,000

Loan advance: $225,000

Loan to value ratio (LVR): 27%

Term: 12 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Equity release for renovation project on another of the borrower's properties

Exit strategy: Sale of borrower's other property

Whitford, Auckland

Whitford, Auckland

First mortgage security

Security description: 6,289m² lifestyle property in new subdivision (bare land)

Registered valuation: $1,575,000

Loan advance: $730,000

Loan to value ratio (LVR): 46%

Term: 12 months

Interest rate: 12%p.a. paid monthly in arrears

Purpose of funds: Equity release for large additions to borrower's residential home

Exit strategy: Sale of property

Manukau, Auckland

Manukau, Auckland

First mortgage security

Security description: 210sqm Industrial unit and 178sqm industrial unit constructed in the 1980's

Registered valuation: $1,520,000 + GST

Loan advance: $800,000

Loan to value ratio (LVR): 53%

Term: 12 months

Interest rate: 12% p.a. paid monthly in arrears

Purpose of funds: Funds required to refinance out existing lender plus small equity release

Exit strategy: Sale of property

Point Chevalier, Auckland

Point Chevalier, Auckland

First mortgage security

Security description: Two seperate freestanding dwellings being split into two titles

Value estimate: $1.8M - $1.9M

Loan advance: $800,000

Loan to value ratio (LVR): 44%

Term: 12 months

Interest rate: 11%p.a. paid monthly in arrears 

Purpose of funds: Balance of funds required to settle purchase and equity release to split titles

Exit strategy: Sale of one property, borrower will keep the other

Hamilton Central, Hamilton

Hamilton Central, Hamilton

First mortgage security

Security description: Two commercial buildings, unit titles, combined floor area of 810sqm

Combined CV: $3,715,000

Loan advance: $800,000

Loan to value ratio (LVR): 22%

Term: 12 months

Interest rate: 11%p.a. paid monthly in arrears 

Purpose of funds: Equity release to renovate one of the buildings, then lease to new tenant

Exit strategy: Refinance via main bank once long term tenant lease in place

Eden Terrace, Auckland

Eden Terrace, Auckland

First mortgage security

Security description: 144m² commercial building, brick and steel construction, unit title (Stratum in Freehold)

CV: $930,000

Loan advance: $173,400

Loan to value ratio (LVR): 19%

Term: 10 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Equity release for borrower's business cash flow

Exit strategy: Refinance out to main bank prior to end of term with better business financials

Oriental Bay, Wellington

Oriental Bay, Wellington

First mortgage security

Security description: 260m² weatherboard eight bedroom home and income on 496m² freehold land

CV: $3,900,000

Loan advance: $1,236,000

Loan to value ratio (LVR): 32%

Term: 6 months

Interest rate: 12%p.a. paid monthly in arrears

Purpose of funds: Balance of funds for purchase and equity release for renovation

Exit strategy: Refinance out to main bank once renovation completed and fully tenanted, approx $2,700pw

Papakura, Auckland

Papakura, Auckland

First mortgage security

Security description: 248m² industrial warehouse on 1,263m² of freehold land

CV: $1,160,000

Loan advance: $271,800

Loan to value ratio (LVR): 23%

Term: 12 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Equity Release for borrower to use for business cashflow

Exit strategy: Refinance out to main bank at end of loan term once business financials are better

Northcote Point, Auckland

Northcote Point, Auckland

First mortgage security

Security description: 100m² dwelling on a half share of 1,005m² of land, cross-lease (freehold)

Purchase price: $1,465,000

Loan advance: $465,750

Loan to value ratio (LVR): 32%

Term: 12 months

Interest rate: 11%p.a. paid monthly in arrears 

Purpose of funds: Balance of capital required for settlement

Exit strategy: Sale of one of the borrower's other properties

Grey Lynn, Auckland

Grey Lynn, Auckland

First mortgage security.

Security description: 119m² three bed 1910s home on freehold 407m² land

CV: $2,325,000

Loan advance: $683,000

Loan to value ratio (LVR): 29%

Term: 12 months

Interest rate: 11%p.a. capitalised (11.57% total)

Purpose of funds: Refinance existing mortgage and equity release for three unit development consenting process

Exit strategy: Refinance to construction lender once resource and building consent approved

Kingseat and Mangere East, Auckland

Kingseat and Mangere East, Auckland

First mortgage across two securities.

Security description: Property 1: 29ha lifestyle property down a private gated driveway. Property 2: 789m² of freehold land

Combined CV: $4,500,000

Loan advance: $1,038,000

Loan to value ratio (LVR): 23%

Term: 12 months

Interest rate: 12%p.a. paid monthly in arrears

Purpose of funds: Refinance existing lender and equity release for development funding on another property

Exit strategy: Sale of property one, currently on market

Tokoroa, South Waikato

Tokoroa, South Waikato

First mortgage security

Security description: 1,129m² four bedroom home on 751m² land

For sale: $530,000

Loan advance: $225,000

Loan to value ratio (LVR): 42%

Term: 6 months

Interest rate: 12%p.a. paid monthly in arrears

Purpose of funds: Refinance and equity release for renovation cost on another property

Exit strategy: Sale of property currently on market

Otahuhu, Auckland

Otahuhu, Auckland

First mortgage security.

Security description: 100m² three bedroom 1920's villa

CV: $900,000

Loan advance: $429,000

Loan to value ratio (LVR): 48%

Term: 6 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Equity release for balance of settlement funds and renovation

Exit strategy: Sale of property once renovation completed

Swanson, Auckland

Swanson, Auckland

First mortgage security.

Security description: 210m² four bedroom home on 1,012m² freehold land, development site

CV: $1,420,00

Loan advance: $627,000

Loan to value ratio (LVR): 44%

Term: 9 months

Interest rate: 11%p.a paid monthly in arrears

Purpose of funds: Equity release for Cap-Ex in borrower's business

Exit strategy: Sale of property once Resource Consent approved

Otahuhu, Auckland

Otahuhu, Auckland

First mortgage security

Security description: 1,040sqm commercial property, corner site, owner occupied tenancy

Purchase price: $2,400,000

Loan advance: $1,040,000

Loan to value ratio (LVR): 43.4%

Term: 12 months

Interest rate: 11.75%p.a. paid monthly in arrears

Purpose of funds: Equity release for cap-ex investment into borrower's business

Exit strategy: Refinance out to main bank lender with new financials

Albany, Auckland

Albany, Auckland

First mortgage security

Security description: 220sqm four bedroom home on 610sqm freehold land

Purchase price: $1,325,000

Loan advance: $463,000

Loan to value ratio (LVR): 35%

Term: 12 months

Interest rate: 12%p.a. paid monthly in arrears

Purpose of funds: Equality release for cap-ex investement into borrower's business

Exit strategy: Repayment of debt from business net profit

Avondale, Auckland

Avondale, Auckland

First mortgage security

Security description: Brand new two bedroom terraced home on freehold title

Purchase price: $870,000

Loan advance: $355,000

Loan to value ratio (LVR): 41%

Term: 6 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Settle the purchase

Exit strategy: On-selling for profit as residual stock

Northcote Point, Auckland

Northcote Point, Auckland

First mortgage security

Security description: 100m² dwelling on a half share of 1,005m² of land, cross-lease (freehold)

Purchase price: $1,465,000

Loan advance: $465,750

Loan to value ratio (LVR): 32%

Term: 12 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Balance of capital required for settlement

Exit strategy: Sale of one of the borrower's other properties 

Long Bay, Auckland

Long Bay, Auckland

First mortgage security

Security description: Title issued 452m² freehold section, all services on site

Purchase price: $920,000

Loan advance: $494,000

Loan to value ratio (LVR): 54%

Term: 12 months

Interest rate: 13%p.a. paid monthly in arrears

Purpose of funds: Balance of capital required for settlement

Exit strategy: Sale of new build property on the site - borrower using own cash to complete

Southland

Southland

First mortgage security

Security description: Eight two bedroom units on 1,629m² land

Registered valuation: $790,000

Loan advance: $300,000

Loan to value ration (LVR): 38%

Term: 12 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Refinance plus equity release for renovations

Exit strategy: Sale of property once renovation completed

Kingseat and Mangere East, Auckland

Kingseat and Mangere East, Auckland

First mortgage across two securities

Security description: Property 1: 29ha lifestyle property down a private gated driveway. Property 2: 789m² of freehold land

Combined CV: $4,500,000

Loan advance: $1,038,000

Loan to value ratio (LVR): 23%

Term: 12 months

Interest rate: 12%p.a. paid monthly in arrears

Purpose of funds: Refinance existing lender and equity release for development funding on another property

Exit strategy: Sale of property one, currently on market

Waipu, Northland

Waipu, Northland

First mortgage security

Security description: One studio dwelling plus accommodation pods and garage on 2.5ha

Registered valuation: $700,000

Loan advance: $273,000

Loan to value ratio (LVR): 39%

Term: 12 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Equity release for short term business cashflow purposes, prior to sale

Exit strategy: Repay debt from the sale

Riverhead, Auckland

Riverhead, Auckland

First mortgage security

Security description: 135m² three bedroom home on 693m² of freehold land

CV: $1,130,000

Loan advance: $510,000

Loan to value ratio (LCR): 45%

Term: 12 months

Interest rate: 12%p.a. paid monthly in arrears

Purpose of funds: Balance of funds required to settle property

Exit Strategy: Borrower is renovating the property and will on-sell for profit

Melville, Hamilton

Melville, Hamilton

First mortgage security

Security description: Large residential home on

circa 830m² of freehold land

CV: $710,000

Loan advance: $285,000

Loan to value ratio (LVR): 40%

Term: 9 months

Interest rate: 11.4%p.a. paid monthly in arrears

Purpose of funds: Funds are used to purchase an

investment property and renovation funds

Exit strategy: Sale of the security property to

repay the debt

Matamata

Matamata

First mortgage security

Security description: Large residential home on

1,800m² of freehold land

Purchase price: $1,250,000

Loan request: $470,000

Loan to value ratio (LVR): 38%

Term: 12 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Funds are being used to

purchase the security asset

Exit strategy: Sale of another property which the

borrower owns to repay the debt

Favona, Auckland

Favona, Auckland

First mortgage security

Security description: Residential home on circa

680m² of freehold land

CV: $960,000

Loan request: $119,000

Loan to value ratio (LVR): 12%

Term: 12 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Funds are being used as an

equity release to renovate the security asset

Exit strategy: Sale of the security asset

Puketepu, Hawke's Bay

Puketepu, Hawke's Bay

First mortgage security

Security description: Four bedroom home on 7.8 hectares of land

CV: $3,280,000

Loan advance: $1,290,000

Loan to value ratio (LVR): 39% 

Term: 12 months

Interest rate: 13% p.a. capitalised into loan repayment

Purpose of funds: Refinance existing debt from current lender

Exit strategy: Sale of the property

Waltham, Christchurch

Waltham, Christchurch

First mortgage security

Secuirty description: Three bedroom home on freehold 563m² subdividable site

iValuation: $430,000

Loan advance: $240,000

Loan to value ratio (LVR): 56%

Term: 6 months 

Interest rate: 12%p.a. paid monthly in arrears 

Purpose of funds: Equity release plus fund development soft costs

Exit strategy: Refinance to construction lender upon consent issued

Auckland

Auckland

Four first mortgage securities

Security description: Two residential properties in Clover Park and Henderson, and two commercial properties in Pukekohe

Combined valuation: $2,400,000

Loan advance: $1,185,000

Loan to value ratio (LVR): 49%

Term: 12 months

Interest rate: 12%p.a. paid monthly in arrears

Purpose of funds: Settle the purchase of the Henderson property plus refinance the other mortgages

Exit strategy: Sale of the residential security assets

Remuera, Auckland

Remuera, Auckland

First mortgage security

Security description: 140m² retail unit with apartment upstairs, on 157m² of land 

Registered valuation: $1,450,000

Loan advance: $400,000

Loan to value ratio (LVR): 28%

Term: 12 months 

Interest rate: 12%p.a. paid monthly in arrears

Purpose of funds: Funds are being used to purchase the security asset

Exit strategy: Borrower will repay debt using cash flow from business

Otara, Auckland

Otara, Auckland

First mortgage security

Security description: Three bedroom 110m² home on 563m² freehold site 

CV: $830,000

Loan advance: $426, 300

Loan to value ratio (LVR): 51%

Term: 6 months 

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Finance and renovate the property 

Exit strategy: Sale of the property once renovation is complete

Manly, Auckland

Manly, Auckland

First mortgage security

Security description: Two bedroom home on 344m² freehold site

CV: $600,000

Loan advance: $322,140

Loan to value ratio (LVR): 54%

Term: 12 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Finance and renovate the property 

Exit strategy: Sale of property once renovation is complete

Waipapa, Bay of Islands

Waipapa, Bay of Islands

First mortgage security

Security description: Relocated home on 4,130m² lifestyle block

Registered valuation: $855,000

Loan advance: $360,500

Loan to value ratio (LVR): 42%

Term: 12 months 

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Equity release to complete the renovation of the security property

Exit strategy: Sale of security property once renovation is complete

Sunnyvale and Kelston, Auckland

Sunnyvale and Kelston, Auckland

Two first mortgage securities

Security description: 110m² three bedroom on freehold site plus four bedroom, two bathroom home on cross-lease site

Combined valuation: $1,730,000

Loan advance: $918,000

Loan to value ratio (LVR): 53%

Term: 12 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Equity release for borrower to settle a purchase of trade property

Exit strategy: Renovate and sell the trade property

Mangaroa, Upper Hutt

Mangaroa, Upper Hutt

First mortgage security

Security description: 355m² brand new build four bedroom home on a 4.1ha lifestyle block 

Registered valuation: $2,950,000

Loan advance: $1,045,280

Loan to value ratio (LVR): 35%

Term: 12 months

Interest rate: 12.6% p.a. capitalised into loan repayment

Purpose of funds: Equity release for borrower to finish a development project

Exit strategy: Sale of the borrower's development project

Fernhill, Queenstown

Fernhill, Queenstown

First mortgage security

Security description: Three bedroom, two bathroom 110m² home with unobstructed lake views

CV: $730,000

Loan advance: $216,500

Loan to value ratio (LVR): 30%

Term: 12 months 

Interest rate: 11%p.a. paid monthly in arrears 

Purpose of funds: Equity release for funds to be used to purchase a unit in Auckland CBD

Exit strategy: Refinance to main bank at end of term once unit has rental income history

Wellsford, Auckland

Wellsford, Auckland

First mortgage security

Security description: 14 hectares of bare land, no dwelling

CV: $880,000

Loan advance: $300,000

Loan to value ratio (LVR): 34%

Term: 12 months 

Interest rate: 13%p.a. paid monthly in arrears 

Purpose of funds: Balance of funds required to purchase land as investment for fruit business

Exit strategy: Refinance to main bank with cash flow history

Manurewa, Auckland

Manurewa, Auckland

First mortgage security

Security description: 3,129m² of land consented for 26 three story terraced houses. Resource consent, building consent and EPA approved

Registered valuation: $4,875,000

Loan advance: $2,310,000

Loan to value ratio (LVR): 47%

Term: 6 months

Interest rate: 12%p.a. paid monthly in arrears

Purpose of funds: Refinance out existing lender plus cash top up for remaining soft costs

Exit strategy: Refinance to construction lender to commence the build of the 26 houses

Riverhead, Auckland

Riverhead, Auckland

First mortgage security

Security description: 817m² freehold, flat section

CV: $860,000

Loan advance: $300,000

Loan to value ratio (LVR): 35%

Term: 6 months

Interest rate: 11%p.a. paid monthly in arrears 

Purpose of funds: Extend existing loan facility

Exit strategy: Transportable home is being put on-site and will refinance with new registered valuation

Papatoetoe, Auckland

Papatoetoe, Auckland

First mortgage security

Security description: Fully renovated three bedroom, one bathroom home, cross lease (freehold) road frontage section with single garage

Purchase price: $775,000

Loan advance: $465,000

Loan to value ratio (LVR): 60% 

Term: 6 months

Interest rate: 11%p.a. paid monthly in arrears 

Purpose of funds: Balance of funds required to settle the purchase

Exit strategy: Re-sale via private treaty method to home-buyer (purchased below-market at auction)

Matarangi, Thames-Coromandel

Matarangi, Thames-Coromandel

First mortgage security

Security description: Lakefront, 978sqm freehold section

Purchase price: $670,000

Loan advance: $300,000

Loan to value ratio (LVR): 44.8% 

Term: 12 months 

Interest rate: 12%p.a. paid monthly (Higher rate due to land only component) 

Purpose of funds: Settle the purchase

Exit strategy: Build new home and sell

Otahuhu, Auckland

Otahuhu, Auckland

First mortgage security

Security description: Road frontage 938sqm in mixed use business zone 

Purchase price: $1,400,000

Loan advance : $400,000

Loan to value ratio (LVR): 28.6%

Term: 6 months 

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Settle the purchase 

Exit strategy: Borrower is obtaining resource consent and will re-sell for profit 

Manurewa, Auckland

Manurewa, Auckland

First mortgage security

Security description: Road frontage 713sqm with resource consent and EPA approved

Purchase price: $1,100,000

Loan advance: $290,000

Loan to value ratio (LVR): 26.4%

Term: 3 months 

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Settle the purchase  

Exit strategy: Renovate and re-sell for profit

Cockle Bay, Auckland

Cockle Bay, Auckland

First mortgage security

Security description: 600sqm freehold section

Agent appraisal: $800,000

Loan advance: $265,200

Loan to value ratio (LVR): 33%

Term: 12 months 

Interest rate: 12%p.a. paid monthly in arrears 

Purpose of funds: Funds required for settlement on another recent property purchase

Exit strategy: Sale of property 

Glen Innes, Auckland

Glen Innes, Auckland

First mortgage security

Security description: 467sqm commercial building constructed in 1950's on five separate titles

Valuation: $2,840,000

Loan advance: $1,288,000

Loan to value ratio (LVR): 45%

Term: 12 months

Interest rate: 12%p.a. paid monthly in arrears

Purpose of funds: Refinance out existing lender to facilitate sell-down

Exit strategy: Sale of individual units 

Gracefield, Lower Hutt

Gracefield, Lower Hutt

First mortgage security

Security description: Two commercial units, brand new builds, freehold tile

Purchase price: $786,000 + GST

Loan advance: $260,000

Loan to value ratio (LVR): 33%

Term: 12 months 

Interest rate: 12%p.a. paid monthly in arrears 

Purpose of funds: Balance of funds required to settle the purchase 

Exit strategy: Refinance via main bank once long term tenant leases are in place 

Porirua, Wellington

Porirua, Wellington

Two first mortgage securities.

Security description: Two separate titles comprising of 290m² early childhood centre and 110m² home on combined 2,545m² freehold land.

Combined valuation: $1,770,000

Loan advance: $780,000

Loan to value ratio (LVR): 44% 

Term: 12 months

Interest rate: 12%p.a. paid monthly in arrears 

Purpose of funds: Equity release to purchase additional property

Exit strategy: Consent both parties for subdivision then refinance to specialist construction lender

Cambridge, Waikato

Cambridge, Waikato

Three first mortgage securities

Security description: Three separate titles comprising of 82 hectares (commercial leases in place) 

Registered valuation: $7,400,000 + GST

Loan advance: $1,980,000

Loan to value ratio (LVR): 27%

Term: 6 months

Interest rate: 11%p.a. paid monthly in arrears

Purpose of funds: Refinance main bank plus equity release for business cash flow and restructure

Exit strategy: Refinance back to main bank lender

Snells Beach, Auckland

Snells Beach, Auckland

First mortgage security

Security description: 345m² commercial building with four tenancies (constructed in 2000s)

CV: $1,775,000

Loan advance: $260,000

Loan to value ratio (LVR): 15%

Term: 12 months

Interest rate: 11%p.a. paid monthly in arrears 

Purpose of funds: Equity release for borrower to use in their business

Exit strategy: Sale of property

Tapu, Coromandel

Tapu, Coromandel

Three first mortgage securities

Security description: 68 hectares of rural land plus two separate 3,500 m² lifestyle blocks 

Combined CV: $1,100,000

Loan advance: $237,500

Loan to value ratio (LVR): 22%

Term: 12 months 

Interest rate: 11%p.a. paid monthly in arrears 

Purpose of funds: Equity release for borrower to complete site works on one of the lifestyle blocks

Exit strategy: Sale of one of the lifestyle blocks

Hunterville, Rangitikei

Hunterville, Rangitikei

Five first mortgage securities

Security description: Five separate freehold titles comprising three hectare bare land, 181m² home on 2,895m², and three bare land plots of 9,055m², 2,461m² and 2,445m² 

Registered valuation: $730,000 

Loan advance: $312,000

Loan to value ratio (LVR): 43%

Term: 12 months 

Interest rate: 13%p.a. paid monthly in arrears 

Purpose of funds: Equity release for cap-ex into the borrower's business

Exit strategy: Repay debt using business cashflow

Portfolio

11% Return on Funds Invested

Maximum 60% Property Value Funding

Secured by First Ranking Mortgage

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