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: development
LVR: 44.78%
Amount: $1,800,000
Term: 9 months
Property Value: $4,020,000
Address: 38 Marina View Drive, West Harbour
| Filter | Result | Client Value | Lender Requirement | Note |
|---|---|---|---|---|
| Loan Type | Fail | refinance (development) | residential | Client: refinance (development property), Product: residential -> mismatch |
| LVR Limit | Pass | 44.78% | 60.0% | |
| Loan Amount | Pass | $1,800,000 | $0 - $7,500,000 | |
| Security Type | Fail | development | vacant_land | development not accepted |
| Credit Score | Pass | - | - | |
| Monthly Turnover | Pass | - | - | |
| Property Owner | Fail | No | Required | Property ownership required |
| Borrower Type | Pass | - | Any |
| Dimension | Raw Score | Weight | Weighted Score | Visual |
|---|---|---|---|---|
| LVR Headroom | 76.1 / 100 | 25% | 19.0 |
|
| Lender max LVR 60.0% - Client LVR 44.78% = 15.22% headroom. Formula: min(100, headroom/20 x 100) = min(100, 15.22/20 x 100) = 76.1 | ||||
| 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 | 79.2 / 100 | 15% | 11.9 |
|
| Amount $1,800,000 is within range $0-$7,500,000. Mid = $3,750,000, distance ratio = 0.26. Formula: max(60, 100 - 0.26 x 80) = 79.2 | ||||
| Term Match | 62.0 / 100 | 15% | 9.3 |
|
| Client term 9mo / Lender max 360mo = ratio 0.025. Formula: max(60, 100 - |0.025 - 0.5| x 80) = 62.0. (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 has no preference -> 99 | ||||
| Turnaround Speed | 100 / 100 | 10% | 10.0 |
|
| Turnaround 24h (<= 24h) -> 100 (fastest tier) | ||||
| TOTAL | 100% | 80.7 |
|
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