Residential Subdivision – Bay of Plenty

Residential Subdivision - Bay of Plenty
Finance

Loan Amount:

$4.6M

Funding lines

Interest Rate:

9.50% p.a.
Term Length

Loan Term:

15 Months

Location

Location:

Tauranga

Background

Loan Purpose:

  • To fund the completion of a 23-lot residential sub-division.
  • 50.5% LVR  (based on on-completion value)
  • Well-located subdivision, close to the CBD and amenities.
  • The borrower pre-sold 48% of the sections, and planned to complete house & land packages on the remaining sites. 
  • 100% of fees and interest costs provisioned within the loan amount.