Areas of finance:
- Lifestyle blocks
- Farm Purchase (Dairy, sheep)
- Buying the Neighbours

- Stock Finance
- Refinance of existing facilities to allow equity release and better rates
- Term loans for:
- Significant farm development including fencing, fertiliser and pasture, capital livestock and stud stock purchases
- Irrigation development
- Plant and machinery purchases
- Agricultural diversification
Specifications*:
- Minimum Loan: $100,000
- Maximum Loan: $10,000,000
- Term: term loans: 3 to 5 years
- LVR - up to 67% (use Fonterra Shares as Equity)
- 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:
- Term loans: lenders prime rate plus risk margin
- 1st mortgage: current floating rates to 12%
- 2nd mortgage: range from 12% to 16%
- Lender Fees: range from 0.3% 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.
|