Case Studies

Case Study 1: Future Development Site

Funding Requirement

Funding was required for the acquisition of a CBD development site with resource consent for high density residential. The funding period provides time to achieve necessary pre-sales, building consent, finalise costings and building contract. Take out via development funding.

Loan Amount                             $2,500,000

LVR                                               53%

Interest Rate                               8.50% per annum

Interest Payment                        Paid monthly

Term                                             6 months

Case Study 2: Tax Arrears

Funding Requirement

To refinance the existing mortgagee and release working capital to pay outstanding IRD tax arrears, avoiding further penalties. Repayment via refinance to trading bank at term.

Loan Amount                             $1,050,000

LVR                                               70%

Interest Rate                               7.75% per annum

Interest Payment                       40% paid monthly in arrears / 60% capitalised as part of the Loan

Term                                            6 months

Case Study 3: Bank Rescue

Funding Requirement

Refinance of a bank first mortgage where mortgagee sale proceedings had commenced and to allow time for an orderly sell down of the Auckland based residential properties. Repayment to be made via settlements.

Loan Amount                             $1,500,000

LVR                                               66%

Interest Rate                               7.95% per annum

Interest Payment                       Paid monthly

Term                                             6 months

Case Study 4: Residential Development Funding

Funding Requirement

Development finance required to construct four residential blocks for owner-investor. Repayment of development finance achieved via bank refinance on completion.

Loan Amount                                  $4,250,000

LVR                                                   69%

Interest Rate                                   9.50% per annum

Interest Payment                            Capitalised as part of the Loan Amount

Term                                                12 months

Case Study 5: Commercial Property Refurbishment

Funding Requirement

To settle the purchase, and subsequent refurbishment of a commercial property in Queenstown. Repayment partial sell down of completed units and bank refinance of the balance.

Loan Amount                            $1,900,000

LVR                                           Initial LVR of 70%,  On completion LVR 61%

Interest Rate                              9.50% per annum

Interest Payment                       50% capitalised / 50% paid monthly

Term                                          6 months

Case Study 6: Residential Bridging Finance

Funding Requirement

To refinance a recently completed new home to release working capital and allow time for the marketing and sell down of the property. Repayment to be achieved via the sale of the property.

Loan Amount                               $1,275,000

LVR                                              49%

Interest Rate                                7.25% per annum

Interest Payment                         Capitalised to the loan account

Term                                            6 months

To discuss your requirements further contact:

Bruce
McGhie

Bruce McGhie

Phone +64 (9) 918 5839
Mobile 021 912 006
bmcghie@cressida.co.nz

Nigel
Staples

Nigel Staples

Phone +64 (9) 918 5842
Mobile 021 687 848
nstaples@cressida.co.nz

Marty
Shepherd

Marty Shepherd

Phone +64 (9) 918 5851
Mobile 021 715 200
mshepherd@cressida.co.nz