Commercial Lending

Commercial First Mortgages

We provide first mortgages for property development and construction funding, including:

Single and multi residential property development

Land subdivision

Reclad and remediation of property with weather tightness issues

Cressida also funds retail, industrial, office, and specialised use properties that fall outside of the main street banks lending criteria for reasons such as:

Interest cover shortfall

• Loan LVR outside bank comfort zone
• Short-term tenancies or tenant vacancies
• Resource consent pending
• Refurbishment or development works
• Offshore resident

For shorter term facilities interest can be capitalised or part-capitalised and, as a matter of course, we meet the beneficial borrower and inspect the property prior to drawdown on the facility.