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.
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Refinance existing debt + top up from another lender.
$1,379,820
Average investment per investor
$520,000
Average loan size
44%
Current Portfolio LVR
$1,379,820
Average investment per investor
$520,000
Average loan size
44%
Current Portfolio LVR
Portfolio
Stanmore Bay, Auckland
First mortgage across two securities
Security description: Property 1: 480m² retail commercial building. Property 2: Circa 530m² retail commercial building. Each property is on their own title
Combined CV: $1,610,000
Loan request: $800,000
Loan to value ratio (LVR): 50%
Term: 12 months
Interest rate: 11%p.a. paid monthly in arrears
Purpose of funds: Refinance current lender
Exit strategy: Refinance out to a main bank prior to end of term with consistent tenancy cash flow
Fairfield, Hamilton
First mortgage security
Security description: Circa 90m² residential home on 776m² of freehold land
CV: $700,000
Loan request: $100,000
Loan to value ratio (LVR): 14%
Term: 12 months
Interest rate: 11%p.a. paid monthly in arrears
Purpose of funds: Fund renovations on the property
Exit strategy: On-sell the property for profit
Grey Lynn, Auckland
First mortgage across two securities
Security description: Property 1: 47m² office building constructed in 2018, on unit title. Property 2: Circa 170m² freehold section (land only)
Combined CV: $1,850,000
Loan request: $954,350
Loan to value ratio (LVR): 52%
Term: 12 months
Interest rate: 12%p.a. paid monthly in arrears
Purpose of funds: Refinance current lender plus an equity release for business purposes
Exit strategy: Sale of security assets to repay the debt
Woodend, Canterbury
First mortgage security
Security description: 180m² brick home on circa 2.8ha of freehold land. Additionally there is a three bay barn on-site plus a circa 50m² granny flat
Registered valuation: $1,180,000
Loan request: $700,000
Loan to value ratio (LVR): 59%
Term: 12 months
Interest rate: 12%p.a. paid monthly in arrears
Purpose of funds: An equity release for the borrower to use for their business expansion
Exit strategy: Refinance to a main bank with improved business accounts in 12 months
Papanui, Christchurch
First mortgage security
Security description: Residential home with a floor area of 110m², located on circa 760m² of freehold land
CV: $670,000
Loan request: $170,000
Loan to value ratio (LVR): 25%
Term: 12 months
Interest rate: 11%p.a. paid monthly in arrears
Purpose of funds: Equity release to subdivide the property into two titles
Exit strategy: Refinance to a main bank once separate titles have been issued
Kumeu, Auckland
First mortgage security
Security description: 240m² large brick home, built in 2018. Located on a freehold section of circa 680m²
CV: $1,550,000
Loan request: $500,000
Loan to value ratio (LVR): 32%
Term: 12 months
Interest rate: 11%p.a. paid monthly in arrears
Purpose of funds: Refinance existing lender plus small equity release
Exit strategy: Refinance to a main bank with improved accounts in 6-12 months
Mount Albert, Auckland
First mortgage security
Security description: Two bedroom residential home with a floor area of circa 100m², on 630m² of freehold land
CV: $1,850,000
Loan request: $829,600
Loan to value ratio (LVR): 45%
Term: 12 months
Interest rate: 11%p.a. paid monthly in arrears
Purpose of funds: Equity release to get consent for subdivision, plus working capital
Exit strategy: Refinance to specialist construction lender once the consents have been approved
Manurewa, Auckland
First mortgage security
Security description: Circa 140m² brick and tile home, located on a circa 610m² freehold site
CV: $790,000
Loan request: $445,000
Loan to value ratio (LVR): 56%
Term: 6 months
Interest rate: 11%p.a. paid monthly in arrears
Purpose of funds: Refinancing the current lender, plus a top up to renovate the property
Exit strategy: Sale of security asset to repay
the debt
Eastbourne, Lower Hutt
First mortgage security
Security description: 140m² residential home on circa 610m² of freehold land
CV: $1,100,000
Loan request: $565,100
Loan to value ratio (LVR): 51%
Term: 12 months
Interest rate: 11%p.a. paid monthly in arrears
Purpose of funds: Equity release for the borrower to use on another one of their projects
Exit strategy: Sale of security asset to repay
the debt
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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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
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
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
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
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
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
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
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
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
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
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
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
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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
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
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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
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
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
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
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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
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
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
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
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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
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
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
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
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
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
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
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
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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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
Portfolio
11% Return on Funds Invested
Maximum 60% Property Value Funding
Secured by First Ranking Mortgage
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