Omega Capital finding Property Finance Solutions in this challenging market

6 September 2022
Omega Capital finding property finance solutions in this challenging market

Cambridge brokerage company Omega Capital is one of the largest regionally based non-bank commercial lending companies in New Zealand.

Omega Capital services a nationwide need for finance and equity solutions for commercial, rural, and residential developer and builder clients. 

Finance solutions are delivered for a variety of property-related projects including construction and development, land acquisition, subdivision, commercial and residential investments, equity release finance, and bridging finance.

Omega Capital was originally established in 2010 by the founder Scott Massey as a two-man commercial property brokerage business.  With Scott’s experience and credibility, his network of high-net-worth contacts saw an opportunity to lend funds in exchange for a strong first mortgage security position and attractive interest returns. 

Since then, the business has experienced significant growth, especially over the last 12 months, as access to finance for property developers across New Zealand has tightened following changes to lending rules at mainstream banks.  Noni Martin, General Manager, says in the past year alone, Omega Capital has secured finance for just over 70 projects. 

Martin says, “Where we differ from other non-bank lenders is that we’re specialised in property finance, which is tough to find in the non-bank lending market.”

“Our consultants are from commercial property financing backgrounds, so you’re not just talking to a general lender.  We speak the same language as our property clients and can understand their financial needs and detailed project-related challenges.  

We also know what’s most important to lenders and the risks they are concerned with, and understand the issues facing developers in today’s market.   With this expertise we can successfully broker a marriage between the two that satisfies both parties.”

Martin says the gap between the average cost of lending by mainstream lenders versus non-bank lenders has narrowed considerably over the past few months. Developers are readily weighing up the possibility of using alternative finance sources more than ever before.

“With tighter regulation and more complex property lending risks, banks have really pulled back their funding support.  Clients appreciate Omega’s willingness to look for possibilities and solutions, whereas mainstream banks see obstacles they just can’t get around.

“When you take the price difference into consideration alongside the flexibility you get through a non-bank lender and then the shorter time horizon to draw and then repay a non-bank loan, it becomes an attractive option for developers,” says Martin.

She says many non-bank lenders aren’t as heavily impacted by the Reserve Bank’s Official Cash Rate rises and their lending rates are now more competitive with the mainstream alternatives.

Martin spent 15 years as a commercial property lender for several mainstream banks before joining Omega Capital. Martin managed some of Auckland’s largest residential apartment developments as well as terraced housing projects, land subdivisions, office, industrial and warehouse developments across New Zealand.

Property Finance consultant Dion Wright joined Omega Capital in 2021 and was one of the founding franchise owners for New Zealand’s largest mortgage advisory company. In addition, Wright operated in client-side construction project management roles. This broad commercial experience is a great asset when Wright is advising clients on appropriate finance structures for their developments.

Martin says “Wright is an excellent relationship builder.  People find him responsive and great to deal with.  He’s a good listener who takes time and care to understand the whole picture so he can broker favourable outcomes for his clients”.

Both Martin and Wright are widely recognised for achieving results, and recent testimonials credit the team for their property finance expertise and their ability to provide speedy finance solutions.

Omega Capital has an excellent track record, making them a first-choice property funding partner for commercial property developers and investors nationwide.

To discuss your property finance needs, contact Omega Capital on 0800 555 620.