Southern Cross Partners Blog

The loan lowdown: May 2024

Written by Southern Cross Partners | May 29, 2024 8:58:58 PM

Our BDMs have been working with advisers to provide bespoke lending solutions for their clients up and down the country this month. We share a snapshot of some of our loans in this month’s loan lowdown.  

  • Refinance and construction: We provided refinancing to a company that had purchased a vacant 764 sqm site in Queenstown. The company is constructing a 254 sqm single level home and income style dwelling with three bedrooms, two bathrooms, open living, and garage, plus a self-contained two-bedroom flat. The term of the loan is 12 months, the interest rate is 11.99% and the LVR is 65%. 
  • Residential investment property purchase: We assisted a company to purchase a residential investment property in Auckland. The security is a circa 1990’s three-level dwelling which provides four-bedroom, two-bathroom accommodation. The term of the loan is 12 months, the interest rate is 9.75% and the LVR is 65%. 
  • Equity release: We supported a company with an equity release over an unencumbered residential investment property to fund working capital requirements on a development project in Mosgiel. The security is a 1920s brick and tile dwelling with later upgrading, situated on a 1041m² corner site close to the amenities of central Mosgiel. The dwelling provides either one to two living areas or three to four bedrooms. Separate double garaging is also provided over a floorplan of 204sqm. The term of the loan is 12 months, the interest rate is 9.95% and the LVR is 65%. 
As always, if you think you’ve got a loan for us then let's chat! Contact one of our BDMs today on 09 535 2239 or loans@scpartners.co.nz.