How to secure property finance with Southern Cross Partners
Specialist lending is for situations needing special attention. Our advisers come to us when their clients need a loan that doesn’t fit bank lending criteria. SCP is a people-led business, so we take the time to understand your clients’ needs, and create a bespoke loan solution that gets your clients from A to B.
Specialist lending criteria can be tricky to pinpoint at times. In a recent survey we asked you, our adviser community, whether lending tools or information packs would help you to better understand how to use specialist lending.
We had an overwhelmingly positive response. So, to make things easier, we’ve broken down our most common loan types into categories and have highlighted the specifics we look for when assessing each one.
It’s important to note that the below is a guide only, and all our loans are assessed on a case-by-case basis. So, if you’re an adviser and you have a loan that fits some, but not all, of the criteria, please get in touch.
Our property finance lending guidelines
| Investment Property |
Development & Construction |
Commercial |
Lifestyle |
Land |
|
|
LVR |
Up to 70% |
50% prior to construction and 65% of completed value |
Up to 60% |
Up to 60% |
Up to 60% |
|
Loan term |
3- 24 months |
6 – 18 months |
3 – 24 months |
3 – 24 months |
3 – 24 months |
|
Valuation from SCP panel valuer |
Case-by-case |
Yes |
Yes |
Yes |
Yes |
|
Lender fee |
From 1.25% |
From 2.25% |
From 2% |
From 2% |
From 2% |
|
Individual requirements |
Max loan of $5 million |
Fixed price build contract required |
Location dependent |
Location and size restrictions will apply |
Location and size restrictions will apply |
*The above is a guide only and all loans will be assessed on a case-by-case basis.
While the above criteria differ for each type of property, there are some permanent fixtures that apply to all of our loans.
- Site visits. Depending on the borrower’s situation, we may require one of our delegates to undertake a site visit. This is determined on a case-by-case basis.
- A clear exit. We need to understand how the borrower plans to repay their loan.
- Additional lending criteria may apply. If a loan doesn’t fit neatly into one of the above categories, that’s okay. We can tailor a loan solution that fits the borrower’s unique needs.
We recently hosted a webinar for advisers called How to secure property finance with SCP, which you can watch below. In this webinar, our Managing Partner Cam Harper, and BDM for the Upper North Island, Hend Salam walk viewers through each of the above categories and answer questions about specialist lending, Southern Cross Partners, and more.
If you’d like to find out more about our property finance loans, please don’t hesitate to watch the webinar or get in touch at loans@scpartners.co.nz.. We’d love to hear from you.
