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: bridging
Property Type: development
LVR: 62.92%
Amount: $2,800,000
Term: 5 months
Property Value: $4,450,000
Address: 12 Totaravale Street, Totaravale, Auckland
| Filter | Result | Client Value | Lender Requirement | Note |
|---|---|---|---|---|
| Loan Type | Fail | bridging (development) | residential | Client: bridging (development property), Product: residential -> mismatch |
| LVR Limit | Fail | 62.92% | 60.0% | Client 62.92% > max 60.0% |
| Loan Amount | Pass | $2,800,000 | $0 - $7,500,000 | |
| Security Type | Fail | development | vacant_land | development not accepted |
| Credit Score | Pass | - | - | |
| Monthly Turnover | Pass | - | - | |
| Property Owner | Pass | Yes | Required | |
| Borrower Type | Pass | - | Any |
| Dimension | Raw Score | Weight | Weighted Score | Visual |
|---|---|---|---|---|
| LVR Headroom | 0 / 100 | 25% | 0.0 |
|
| Client LVR 62.92% >= Lender max 60.0%, headroom = -2.92% (no room) -> 0 | ||||
| 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 | 89.9 / 100 | 15% | 13.5 |
|
| Amount $2,800,000 is within range $0-$7,500,000. Mid = $3,750,000, distance ratio = 0.13. Formula: max(60, 100 - 0.13 x 80) = 89.9 | ||||
| Term Match | 61.1 / 100 | 15% | 9.2 |
|
| Client term 5mo / Lender max 360mo = ratio 0.014. Formula: max(60, 100 - |0.014 - 0.5| x 80) = 61.1. (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% | 63.1 |
|
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