Supporting an Owner-Builder with Flexible Construction Finance

The Challenge

Our client, an experienced owner-builder, was in the middle of a four-lot housing development. They had self-funded the land purchase and civil works up to the foundation stage, but slow sales in the current market meant additional cash flow was required to keep the project moving.

Traditional lenders were hesitant, particularly because the client was managing the build themselves rather than using a fixed-price contractor.

The Cressida Solution

Cressida Capital issued a loan offer within 24 hours and settled the loan within two weeks of acceptance. We provided an equity release secured against their residential development site in Auckland, with future progressive drawdowns structured around a mutually agreed payment schedule.

Importantly, we did not require a registered valuation or quantity surveyor’s report, reflecting both our confidence in the client’s capability and track record and understanding of remaining project risks.

By tailoring the facility to the client’s needs, we ensured they could maintain momentum on their project and keep their suppliers and subcontractors happy under challenging market conditions.

Our flexible approach enabled the client to focus on delivery while we provided the funding support to bridge cash flow pressures until sales were realised.

Get your project moving quickly and easily.