Contact: Song Song (021 581 835 )
Phone: 09 520 0373
Email: song.song@finbase.nz
Website: www.finbase.nz
Notes: Finbase provides short-term, non-consumer lending secured by first mortgage over NZ property.
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How the lender classifies/segments borrowers into tiers or suites
| Tier | Criteria | Base Rates |
|---|---|---|
| Non-construction | Loan secured by first mortgage over NZ property, non-consumer lending | |
| Construction | Loan secured by first mortgage over NZ property, non-consumer lending, construction project |
| LVR Range | Premium | Notes |
|---|---|---|
| Up to 50% | 7.45% | Major Urban Resi |
| Up to 60% | 7.95% | Urban Resi |
| Up to 70% | 8.45% | Major Urban Comm/Land |
| Up to 70% | 8.95% | Urban Comm/Land |
| Up to 70% | 9.45% | Regional |
| Amount Range | $0 - $5,000,000 |
| Max LVR | 65.0% |
| Term | 3 ~ 24 months |
| Interest Rate | 9.95% - -% |
| Payment Types | interest_only,capitalised |
| Turnaround | - |
| Min Credit Score | - |
| Min Trading | - |
| Min Turnover | - |
| Property ownership | Required |
| Security Types | residential |
| Type | Max LVR | Notes |
|---|---|---|
| Residential | 65% | 65% of 'completion' |
| Type | Min | Max |
|---|---|---|
| Interest Only | 3mo | 24mo |
| Capitalised | 3mo | 24mo |
| Establishment Fee | 3.0% (min $5,000) |
| Documentation Fee | $2,500 |
| Monthly Fee | $495/mo |
| Line Fee | - |
| Security | First mortgage over residential property |
| Documents | Security property address, Guarantor name, Detail on previous experience related to construction projects, Loan amount requested, IEP report (for commercial properties only), Requested loan term, Purpose of funds, Repayment strategy, Borrower name, Project feasibility, Estimated end value, Building plans and consents, including resource consents, building consents, and engineering approvals |
| Amount Range | $0 - $2,500,000 |
| Max LVR | 70.0% |
| Term | 3 ~ 24 months |
| Interest Rate | 7.45% - 9.45% |
| Payment Types | interest_only,capitalised |
| Turnaround | - |
| Min Credit Score | - |
| Min Trading | - |
| Min Turnover | - |
| Property ownership | Required |
| Security Types | residential,commercial,vacant_land,rural,lifestyle |
| Type | Max LVR | Notes |
|---|---|---|
| Residential | 70% | |
| Commercial | 60% | |
| Rural | 55% |
| Type | Min | Max |
|---|---|---|
| Interest Only | - | 24mo |
| Capitalised | - | 24mo |
| Establishment Fee | 4.0% (min $5,000) |
| Documentation Fee | $2,500 |
| Monthly Fee | $45/mo |
| Line Fee | - |
| Credit History | None |
| Security | First Mortgage Only |
| Documents | Sale and Purchase Agreement (if applicable), No Registered Valuation* No Financials or Statement of Position required* |
| Industry | None |
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