Product: Vacant Land Mortgage
Type: residential
Max LVR: 60.0%
Amount Range: $0 - $7,500,000
Max Term: 360 months
Rate: 7.65%
Contact: Craig Rolls (021 466 004) | applications@basecorp.co.nz
Purpose: refinance
Property Type: residential
LVR: 47.07%
Amount: $10,000,000
Term: 300 months
Property Value: $34,035,000
Address: 41a Clarence Street, Devonport; 1A Harrison Road, Mt Wellington; 2 Thornton Road, Milford; 100 Market Road, Epsom; 9 Patey Street, Epsom; 7 Abbott Way, Remuera; 27 Union Street, Auckland; 141 & 141B Centreway Road, Orewa; 8 Bass Road, Albany
| Filter | Result | Client Value | Lender Requirement | Note |
|---|---|---|---|---|
| Loan Type | Pass | refinance (residential) | residential | |
| LVR Limit | Pass | 47.07% | 60.0% | |
| Loan Amount | Fail | $10,000,000 | $0 - $7,500,000 | $10,000,000 > max $7,500,000 |
| Security Type | Fail | residential | vacant_land | residential not accepted |
| Credit Score | Pass | - | - | |
| Monthly Turnover | Pass | - | - | |
| Property Owner | Pass | Yes | Required | |
| Borrower Type | Pass | Self-employed, Investment | Any |
| Dimension | Raw Score | Weight | Weighted Score | Visual |
|---|---|---|---|---|
| LVR Headroom | 64.6 / 100 | 25% | 16.1 |
|
| Lender max LVR 60.0% - Client LVR 47.07% = 12.93% headroom. Formula: min(100, headroom/20 x 100) = min(100, 12.93/20 x 100) = 64.6 | ||||
| Interest Rate | 82.3 / 100 | 25% | 20.6 |
|
| Rate = 7.65%. Formula: (20 - 7.65) / 15 x 100 = 12.35/15 x 100 = 82.3. (Scale: 5% = 100, 20% = 0, linear) | ||||
| Loan Amount Fit | 0 / 100 | 15% | 0.0 |
|
| Amount $10,000,000 exceeds max $7,500,000 by 33.3%. Formula: max(0, 60 - 0.33 x 200) = 0. (Partial score for near-miss) | ||||
| Term Match | 73.4 / 100 | 15% | 11.0 |
|
| Client term 300mo / Lender max 360mo = ratio 0.833. Formula: max(60, 100 - |0.833 - 0.5| x 80) = 73.4. (Best when ratio between 0.3-0.8) | ||||
| Payment Flexibility | 99 / 100 | 10% | 9.9 |
|
| Lender offers 3 type(s): capitalised, interest_only, principal_and_interest. Base = 3 x 33 = 99. Client prefers 'principal_and_interest' which is available -> max(99, 80) = 99 | ||||
| Turnaround Speed | 100 / 100 | 10% | 10.0 |
|
| Turnaround 24h (<= 24h) -> 100 (fastest tier) | ||||
| TOTAL | 100% | 67.6 |
|
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