Product: Construction Loan
Type: construction
Max LVR: 65.0%
Amount Range: $0 - $5,000,000
Max Term: 24 months
Rate: 9.95%
Contact: Song Song (021 581 835 ) | song.song@finbase.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 | Fail | refinance (residential) | construction | Client: refinance (residential property), Product: construction -> mismatch |
| LVR Limit | Pass | 47.07% | 65% | |
| Loan Amount | Fail | $10,000,000 | $0 - $5,000,000 | $10,000,000 > max $5,000,000 |
| Security Type | Pass | residential | residential | |
| 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 | 89.6 / 100 | 25% | 22.4 |
|
| Lender max LVR 65% - Client LVR 47.07% = 17.93% headroom. Formula: min(100, headroom/20 x 100) = min(100, 17.93/20 x 100) = 89.6 | ||||
| Interest Rate | 67.0 / 100 | 25% | 16.8 |
|
| Rate = 9.95%. Formula: (20 - 9.95) / 15 x 100 = 10.05/15 x 100 = 67.0. (Scale: 5% = 100, 20% = 0, linear) | ||||
| Loan Amount Fit | 0 / 100 | 15% | 0.0 |
|
| Amount $10,000,000 exceeds max $5,000,000 by 100.0%. Formula: max(0, 60 - 1.00 x 200) = 0. (Partial score for near-miss) | ||||
| Term Match | 0 / 100 | 15% | 0.0 |
|
| Client term 300mo > Lender max 24mo -> 0 (term too long) | ||||
| Payment Flexibility | 66 / 100 | 10% | 6.6 |
|
| Lender offers 2 type(s): interest_only, capitalised. Base = 2 x 33 = 66. Client prefers 'principal_and_interest' but NOT available -> 66 | ||||
| Turnaround Speed | 50 / 100 | 10% | 5.0 |
|
| Turnaround time not specified -> default 50 | ||||
| TOTAL | 100% | 50.8 |
|
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