Areas of finance:
- Commercial and industrial developments:
- Office blocks, Warehouses, Factories
- Lifestyle/apartment villages (pre-sales maybe required)
- Off Shore, such as Australia and Fiji
- Design and build
- Project Underwriting:
- Exit strategies
- Pre-sales
- Land Banking:
(in current market
you need RC and Pre-sales)
- Hold for development
- Awaiting resource consent
- Awaiting rezoning
- Subdivisions:
- Commercial and industrial
- Rural
- Residential
- Coastal
- Refinance of existing facilities to allow equity release and better rates
- First and Second mortgage finance
Specifications*:
- Minimum Loan: $100,000
- Maximum Loan: $100,000,000
- Term: 12 months to long term
- LVR - up to 80% (GST exclusive if borrower is GST registered)
- up to 100% of cost for developments
- Minimum cash equity is normally 20%
- Fixed and/or floating interest rates
- Interest only or principle & interest repayments
Costs*: (these are industry standards)
- Interest Rates:
- 1st mortgage: current floating rates to 12%
- 2nd mortgage: range from 12% to 19.5%
- Lender Fees: range from 1% to 4%
- Legal Costs: vary upon financier and your solicitor
The exact interest rate depends on the market conditions, strength of the securities and the credit risk associated with the application and the applicant.
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