FIRST-MORTGAGE BRIDGING FINANCE

Client Scenario: This Auckland-based client was looking at taking advantage of a new property investment opportunity. However, they could not raise the necessary funds through mainstream lenders, so they approached us to enquire about our bridging finance options.

Merx Solution: After assessing the client’s circumstances and goals, we were able to ascertain the quality of their plan and their commitment to a path to repayment. On this basis, we funded a $2 million bridging finance loan at 60% loan-to-value ratio, secured against two properties. This allowed our client to acquire the new property before they sold the existing property.

SEASONAL WORKING CAPITAL

Client Scenario: Another client, a business owner, needed seasonal working capital to keep their business running smoothly during the busy summer period. However, the process of getting funding through a mainstream lender was taking longer than the business could sustain, so they contacted us to get things moving faster.

Merx Solution: This client scenario is a typical example of the difference that receiving a quick response can make, when business is involved. Following our assessment, we confirmed that the client was under 70% loan-to-value ratio on their property. This and their plans gave us confidence in their ability to take the risk, with our financial backing. So, we funded the required $150,000 to support their cashflow through the January-February period. The three-month working capital funding facility is provided on a revolving basis, secured by a second mortgage over their property.