The loan lowdown: March 2024

From construction projects to expanding property portfolios, we love nothing more than seeing our clients achieve their financial goals and helping them get from A to B.  

Check out some of the loans we’ve been lending on this past month:

• Construction refinance: We assisted a company with the refinancing of a construction project in Auckland. The loan term was for 12 months, with a 10.25% interest rate and an LVR of 60%. The security was a project in Milford comprising four standalone townhouses built with final inspection passed, and currently waiting on CCC and the issue of titles.  
• Equity release and refinance: We helped multiple individuals with an equity release and refinance to complete a development in Wellington. The Loan term was 12 months, the interest rate was 10.49%, and the LVR was 61%. The security was a recently renovated two-level dwelling in Mt Victoria comprising four bedrooms, multiple living areas, a kitchen and a butler’s pantry.   
• Property purchase: We assisted a company to settle a future development site at Edgeware. The loan term was 12 months, the interest rate was 9.99% and the LVR was 55%. The Security was a 983m² rectangular-shaped site zoned RSDT (Residential Suburban Density Transition) and suitable for development. 

If your borrower has a loan that may suit us, get in touch with our lending team today on 09 535 2239, email us at email loans@scpartners.co.nz or reach out to your SCP business development manager.