A section purchase and construction of a single house within a greenfield subdivision in Flat Bush, Auckland. The construction loan included capitalised interest and fees with no repayments required during the build. Funding was approved without a fixed price contract in place and no valuation drawdown reports were required – instead, drawdowns were provided based on agreed milestones.
| Loan: | $840,000 |
| End Value: | $1,200,000 |
| Loan-to-value: | 70% |
| Loan-to-cost: | 82% |
| Term: | 9 months |