Wide range of options
Loans from $500k to $100M at 6% interest for 3 to 24 months.
Access New Zealand’s top non-bank lenders for reliable site financing.
How can Wefund help?
If you’re a property developer seeking funds to purchase a development site, Wefund is a good choice. As development land or sites may be difficult to resell if a project fails, mainstream banks and lenders are often reluctant to get involved in land acquisition funding. As a result, this is traditionally covered by a combination of both bank financing and developer equity. This gap in site acquisition financing is being increasingly bridged by some of New Zealand’s top non-bank lenders, such as Wefund.
Institutions that finance development site purchases typically rely heavily on the feasibility of the proposed development. They will therefore often approve them only for their strongest customers with a track record in delivering development projects. Also, the proportion of their real estate loan portfolio that can be used for land acquisition is restricted, so they generally provide no more than 40% to 60% loan to value ratio funding.
Additionally, because the ability to repay a development loan depends upon the successful sale of the lots, a lender must be satisfied a developer will be able to sell enough units prior to development funding being made available. This often means lenders require up to 100% of debt cover in pre-sales, with appraisals significantly influencing the ability to secure financing.
Why is site acquisition finance from Wefund a good option?
Types of Properties
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Site Acquisition Funding Terms
Up to 65%
Up to $500m
Why use Wefund for your site acquisition loan?
We offer fast, transparent non-bank property and development finance through our pre-qualified pool of over 60 lenders.
We’ve reinvented the way property developers and business owners obtain construction finance. Our platform streamlines the lending process using the latest technology for quicker, more reliable, and secure construction funding. This process is based on a proven structure used by New Zealand’s best commercial brokers, such as Wefund.
Wefund is more than just a technology platform, however. Our specialist team supports you to structure your application before it’s presented to the most appropriate lenders on our platform. After reviewing all the information, lenders are then free to submit their terms to finance a deal.