DEVELOPMENT & CONSTRUCTION

Fast, flexible construction finance to get your project moving.

Construction projects are complex. That’s why you need a funding partner with experience and flexibility.

Our lending requirements are straightforward, with typically no requirement for a registered valuation, quantity surveyor, or project pre-sales.

We provide first mortgage funding for property development and construction projects, such as:

  • Residential single and multi-unit projects
  • Commercial construction
  • Major refurbishments
  • Structural/Earthquake strengthening

Our expert team will work to understand your project. With LVRs up to 70%, we can structure lending to support your cashflows and project requirements, including pre-commencement equity release, GST facilities, and deposit advances on key project materials.

We can fund the full development cycle by converting the development facility to a lower cost Sell-Down Facility once CCC is issued, reducing your finance costs, protecting project margin, and enabling you to control the sale process.

The sell down facility provides for GST, ensuring IRD obligations are met, and can include partial settlements, releasing a portion of the net sale proceeds back to the developer.

Key Information

We’ll review your project consents, plans, and costings to gain a commercial understanding of your project structure. If we have any questions, we’ll ask you directly.

Key lending terms:

Facilities up to:

$20.0m

LVR up to:

70%

Interest Rates from:

6.50%

Establishment fee from

2.00%

Line fee from:

25 bps

Can be structured to suit the Borrower e.g. higher fee / lower rate or lower fee / higher rate.

Get your project moving quickly and easily.

How to Apply

1. Initial contact

Call one of our expert Lending Managers to discuss your funding needs.

Warren, Naomi or Andrew will give you immediate feedback, including indicative loan pricing and terms.

2. Funding application

Submit your application for funding.

We aim to provide a same day assessment for all complete funding applications. We often issue a credit approved loan offer the same day, too.

3. Letter of offer

All of our letters of offer are credit approved and include specific loan terms such as:

  • Loan amount and term
  • Interest rate and any finance fees
  • Purpose for lending
  • Loan securities
  • Any terms and conditions

4. Acceptance & due diligence

On return of the letter of offer and payment of an initial finance fee, we’ll get things moving.

Your lending manager will cover off any outstanding conditions and work towards settlement.

5. Legal documentation

Our in-house solicitor and legal executive will prepare the legal documentation and work with your solicitor to confirm the settlement date and agree timeframes for executing the loan documents.

6. Settlement

Once the paperwork has been finalised, we’ll transfer the funds.

We have been known to settle within 48 hours of the application first being made.

Frequently Asked Questions

At Cressida we aim to quickly form a commercial view on a transaction and take a flexible and personalised approach to lending which is not possible with a major bank.

Give any of our Lending managers a call, text message, or email. They are highly experienced property professionals and can provide direct feedback and indicative terms straight away.

We have a wide range of clients including property investors, property developers, business owners, and people who need a flexible finance solution quickly to move forward.

Our lending includes residential development such as townhouses and house construction projects, commercial development projects, commercial and residential investment property acquisition, land subdivision, section finance, completed stock funding, and bridging scenarios where two settlements don’t quite line up.

A high level understanding of your background, the purpose of the funding and repayment strategy is a good starting point. Address and relevant details of the security property and, if there’s a project involved, then just let us know how things are going with resource and building consents.

Generally we don’t require a registered valuation. Our highly experienced team can quickly form an evidence based view on a property’s value range. This saves time and money.

Typically we will not require a quantity surveyor and, while pre-sales are a positive for any project, they are not a requirement either.

Yes, we understand that at the end of a project cash flow is king. We regularly do equity releases / partial discharges on request from our clients.

Yes, we’re more interested in the project or your plan than your current income position. If it makes sense to you then chances are it does to us as well.

We offer our clients the option to either service the loan interest or capitalise it to the loan account and pay this when the loan is repaid.

Our rates are market leading – to get the most accurate up to date rates just call one of our Lending Managers.

From 3 months up to 36 months.

Yes, Cressida is a registered Financial Service Provider and is a member of the Financial Dispute Resolution Service. More details on this service can be found at www.fdrs.org.nz

Lending Managers

We’re here to help you succeed

Call Warren, Naomi, or Andrew today to discuss your funding needs.

Warren Law

Senior Lending Manager
+64 21 483 666 | Email | LinkedIn

Andrew Stevenson

Lending Manager
+64 27 700 2708 | Email | LinkedIn

Naomi Yueh

Senior Lending Manager
+64 21 912 006 | Email | LinkedIn

Success Stories

Real People, Real Projects, Real Results

Cressida Capital has supported property developers and investors throughout New Zealand for over 20 years.
Explore some of our recent projects.

Equity Release for First-Time Developer

Tailored Construction Finance

Flexible Construction Finance for Owner-Builder

Testimonials

Hear from those who’ve experienced the Cressida difference first-hand

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Why Partner with Cressida?

When it comes to property, experience counts. We’ve been in business for 22 years, providing tailored finance solutions when the banks won’t.

With thousands of transactions and billions of dollars advanced, our reputation has been built on understanding our customers’ circumstances, projects, and unique
needs.

Cressida can support your success with fast, flexible finance at market leading rates. All our loan offers are credit approved and funding is pre-allocated, so if you need to settle quickly we can too.