We’ve been noticing a real shift in business and property sectors lately. There’s a growing sense of confidence and with more credit becoming available, businesses are feeling optimistic and ready to act. After a prolonged period of caution, it feels like momentum is building again.
CLIENT SCENARIO #1
Why did this client need our funding: Funds required to complete a subdivision, section has sold unconditionally and will settle once the title has been issued.
Amount: $100,000
Industry: Residential property developer
Location: Auckland City
LVR: 65%
Type of security: Second mortgage over residential property.
Path to repayment: Funds from settlement of section once subdivision is complete.
Why Merx: Quick decision and flexible funding structure, aligning with the client’s plan.
CLIENT SCENARIO #2
Why did this client need our funding: Property developments rarely come in on time and on budget. This client needed funding to rebalance their bank funding arrangement after encountering cost over-runs on a residential property
Amount: $150,000
Industry: Property development
Location: Auckland and Hamilton
LVR: 55%
Type of security: Second mortgage over separate, stand-alone residential property.
Path to repayment: Completion and sell down of residential property development project.
Why Merx: Practical solution to completing a project. We considered the matter and provided an ‘out-of-the-box’ solution that helped the client get ahead.
CLIENT SCENARIO #3
Why did this client need our funding: Property investor undertaking a renovation project needed funds to complete their project and add value to their property. The bank was taking too long to provide support.
Amount: $150,000
Industry: Property investor
Location: Auckland
LVR: 60%
Type of security: Second mortgage over investment property behind the bank.
Path to repayment: Revalue and refinance.
Why Merx: Quick decision, hassle-free cash to help add value to their property.
CLIENT SCENARIO #4
Why did this client need our funding: Property investor seeking to purchase a new commercial investment asset – it was a “good buy.” The bank made promises but provided no certainty of approval. The client needed to get on and settle the purchase to get hold of this opportunity.
Amount: $450,000
Industry: Commercial property investment
Location: Auckland
LVR: 55%
Type of security: First mortgage over investment property.
Path to repayment: Refurbish, re-lease, and refinance.
Why Merx: We were quick to understand the opportunity and provided an approval within a day – we know a good deal when we see it. This client just needed our fast, flexible, and simple solution to help secure the opportunity.