Stage One

Our clients were having trouble getting funding approved for their projects from the main banks and were referred to us. Clients were looking to purchase existing owner-occupied property on a large block and subdivide the land. The intention was to keep their owner-occupied property and split the other block into two dwellings. With our experience in the field, we sought funding from one of the main banks.

Location Auckland

Stage 1 Loan $1.9 million

End Value $3.2 Million

Loan to value: 59%

Term: 30 years (interest only five years Investment properties)

Stage Two

Funding approval to subdivide existing owner-occupied property demolish the existing dwelling and build two new dwellings. The proposal was the front property will be another investment property and the larger property at the back will be their new owner-occupied property.

Stage 2 Loan $1,025,000

Total project loan $2,925,000

End Value $4.5 million

Loan to value 65%

Term 30 years (Interest only five years investment property)

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