New Zealand Mortgages & Securities Limited (NZMS)

Development Lending Can fund up to 65% of ‘ as if complete’ valuation (excl GST). Will need relatively strong presales leaving a residual LVR of >40% LVR. Projects with little to no presales we will be around 50% LVR. Key conditions include an updated panel valuation, a statement of position from guarantors, and a panel QS Report. For developments with a full take out (as we have done with some Kianga Ora developers) we can fund up to 70% of ‘as of complete’ valuation. Prefer Auckland-based projects (but not restricted to). Bridge Lending Can fund around 50% - 60% of updated ‘completed’ valuation (excl GST) or purchase price. Key conditions include an updated panel valuation (preferably Seagars or JLL), a statement of position from guarantors/ Prefer Auckland-based projects (but not restricted to).