Keeping Things Simple

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, totaling 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 penalties
• No registered valuation required
• No quantity surveyor requirement
• 100% capitalised interest to reduce monthly servicing costs

The Result:

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