Background Clients were renting and were given notice to move out. They wanted to purchase an owner-occupied property using equity in their unencumbered rental property.  Challenge The clients had recently started a business, and their main bank wouldn’t support their application due to the short tenure of self-employment.  Mitigants  Strong applicants with an excellent [...]

Background  Clients needed to refinance to enable urgent remedial work on the security property, consolidate debt including tax arrears, and restructure existing ownership based on advice from their accountant and solicitor.  Challenge  The main bank wouldn’t support their application due to tax arrears  The property had flood damage, and although insurance claims were completed, [...]

Background A single man in his mid-30s sought to purchase an owner-occupied home in a main New Zealand city, with lending at 90% LVR.  Challenge  The customer had previously experienced some credit challenges, which impacted their credit score. While these issues were in the past, they were a factor in the assessment process, particularly when [...]

Background A couple, where the husband has a terminal illness, needed to be closer to family for support. They had unconditionally sold their home in a small North Island town. They found a new family home in another town, but their existing main bank refused to support the purchase due to past mortgage repayment arrears.  [...]

Background  The client sought a top-up caveat loan to cover tax arrears and cosmetic renovations for an existing property, with plans to sell the property upon completion. Challenge  The main bank provider was unable to demonstrate servicing due to test rates applying to the overall global position of the client’s portfolio.  Mitigants  Stable employment  [...]

Background The client owned a lifestyle property in a desirable rural coastal area and wished to purchase another lifestyle property in the same region. However, they needed time to prepare their current property for sale. To facilitate the purchase, they required an initial deposit to be paid now, with the remaining balance settled upon the [...]

Background A retired client, who is a professional rental investor/landlord, had their current lending with another non-bank lender. They required a top-up of $776,000 to facilitate take out/refinance of vendor finance on one of their securities and to pay for consents and costs associated with subdividing one of their other security properties. They were [...]

Background A young couple with two dependents, who had recently returned to New Zealand after living overseas, sought to purchase the property they were currently renting as their owner-occupied home at 85% LVR. Challenge  One of the clients had a recently paid small financial default, which the main banks were unwilling to overlook. Mitigants  Stable PAYE [...]

Background An elderly couple, aged 92 and 83, required funds to cover the remaining balance for purchasing a right-to-occupy unit at a dementia care village, which one of the applicants needed to move into urgently. The clients approached Avanti because they did not meet their mainstream lender’s criteria. They did not wish to sell their owner-occupied [...]

Background A customer required $440,000 to refinance their existing mortgage, release equity of $40,000 to complete the finishing touches to their newly built owner-occupied home and to repay and consolidate $45,000 of short debt incurred due to unforeseen cost overruns and delays in the construction process. This debt included them going slightly over their credit card limit and [...]