$4.6M Construction Loan | 8.95% Interest | 8 Standalone Houses

Published: May 13, 2026

This week’s Deal of the Week highlights Cressida’s flexibility in relation to pricing structure.

Loan Summary:

  • Purpose: Funding was required to help with construction of 8 standalone houses in Onehunga.
  • Security: Two adjoining residential properties, totalling around 1400sqm.
  • Loan Amount: $4.6M
  • Interest Rate: 8.95% + 2.5% and No Line Fee
  • Term: 12 months
  • LVR: 61% on completion

The Challenge:

An experienced developer needed fast and flexible construction funding to assist with the construction of 8 standalone houses.

Our Solution:

  • Cressida was able to tick all of the Borrower’s requirements.
  • A team of experienced development funders that are experts in Auckland residential development
  • No early repayment fees
  • No registered valuation required
  • No quantity surveyor requirement
  • 100% capitalised interest to reduce monthly servicing costs

 

If you’re seeking flexible residential property finance outside the traditional bank model, we’d love to hear from you.

 

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