A client was in the process of selling a residential investment property, when settlement was called on the commercial property he had recently purchased in Te Aro, Wellington. A 3-month bridging loan (secured against both properties) was provided to enable the client to meet his settlement obligations while he completed the sale process for his residential investment property. No valuations were required.
| Loan: | $1,750,000 |
| End Value: | $2,620,000 |
| Loan-to-value: | 67% |
| Term: | 3 months |