A large block of residential land located in North Auckland. A Land Bank Facility was provided to enable the client to complete resource consenting for the subdivision. The Loan Facility provided refinance for the existing mortgage, a further advance facility to cover consenting costs, as well as capitalised interest and fees.
| Loan: | $6,000,000 |
| End Value: | $12,000,000 |
| Loan-to-value: | 50% |
| Term: | 12 months |