On the portal: October 2024 Investments
The continuing slide of the OCR have seen an increase in enquiries for investments that offer more than the ever-decreasing term deposits.
The latest OCR reductions have affected lending rates across the board and investment rates along with it. At SCP rates have started tracking down with minimum rates now starting at 7.25%.
However, we are also pleased to consistently offer opportunities with a minimum investment of $10,000, allowing more investors to sample our investments and diversify their portfolios.
Here is a highlight of some of the investments released this week:
- Residential investment: a new one bedroom, plus office, luxury apartment in Meadowbank, conveniently located close to transport and Auckland CBD. The particulars of this loan include a 12-month term, 7.25% p.a* interest rate and a LVR of 33%.
- Residential investment: located in Flagstaff, Hamilton, this home consists of five bedrooms and three bathrooms across two levels, on a substantial 4,800 m2 site with views over the Waikato River. The particulars of this loan include a 12-month term, 7.40% p.a* interest rate and a LVR of 57%.
- Construction and development: a five bedroom home with three bathrooms to be constructed in Jacks Point in Queenstown, plus an additional security property comprising a single level, three bedroom investment property in Te Atatu, Auckland. The 12-month term has a 7.75% p.a* compounding interest rate and a LVR of 63%.
- Residential land and home construction: located in Glenbrook, Auckland, this site is 537m2 and level. Situated within a recently established residential development, the borrower is to build a self-funded four bedroom home. The loan term is 8-months, with a 7.50% p.a* interest rate and a LVR of 45%.
We’re seeing an increase in investors needing to resell their investment via the secondary market so you will see more opportunities marked ‘Resale market’ on the portal. There are a variety of reasons why an investor may decide to exit the loan early, including purchasing property, helping out family or winding up of a deceased estate. To learn more about the resale market, see our earlier bog here.
Remember, if you like what you see, login to the portal and scoop up the loan before someone else does!
* Rates and terms displayed are subject to availability
Southern Cross Partners is licenced to provide peer to peer lender lending services under the Financial Markets Conduct Act 2013. This article is general in nature only and has not taken into account any particular person’s objectives or circumstances. We recommend you speak with a financial adviser before making any investment decisions.