Commercial Lending

Commercial First Mortgages

We provide first mortgages for property development and construction funding, including:

  • Single and multi residential property development
  • Land subdivision
  • Reclad and remediation of property with weather tightness issues

Cressida also funds retail, industrial, office, and specialised use properties that fall outside of the main street banks lending criteria for reasons such as:

  • Interest cover shortfall
  • Loan LVR outside bank comfort zone
  • Short-term tenancies or tenant vacancies
  • Resource consent pending
  • Refurbishment or development works
  • Offshore resident

For shorter term facilities interest can be capitalised or part-capitalised and, as a matter of course, we meet the beneficial borrower and inspect the property prior to drawdown on the facility.

Indicative lending terms are:

Facility up to $10m
Term up to 36 months
Interest Rates from 7.95% p.a. to 9.95% p.a
LVR up to 70%
Finance Fee 1.00% to 2.00% (excludes brokerage commission)

General Terms and Conditions

Commercial Lending

Commercial Lending

Commercial Lending

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