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: 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) | construction | Client: bridging (development property), Product: construction -> mismatch |
| LVR Limit | Pass | 62.92% | 65.0% | |
| Loan Amount | Pass | $2,800,000 | $0 - $5,000,000 | |
| Security Type | Fail | development | residential | 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 | 10.4 / 100 | 25% | 2.6 |
|
| Lender max LVR 65.0% - Client LVR 62.92% = 2.08% headroom. Formula: min(100, headroom/20 x 100) = min(100, 2.08/20 x 100) = 10.4 | ||||
| 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 | 95.2 / 100 | 15% | 14.3 |
|
| Amount $2,800,000 is within range $0-$5,000,000. Mid = $2,500,000, distance ratio = 0.06. Formula: max(60, 100 - 0.06 x 80) = 95.2 | ||||
| Term Match | 76.6 / 100 | 15% | 11.5 |
|
| Client term 5mo / Lender max 24mo = ratio 0.208. Formula: max(60, 100 - |0.208 - 0.5| x 80) = 76.6. (Best when ratio between 0.3-0.8) | ||||
| Payment Flexibility | 66 / 100 | 10% | 6.6 |
|
| Lender offers 2 type(s): interest_only, capitalised. Base = 2 x 33 = 66. Client has no preference -> 66 | ||||
| Turnaround Speed | 50 / 100 | 10% | 5.0 |
|
| Turnaround time not specified -> default 50 | ||||
| TOTAL | 100% | 56.7 |
|
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