We lend against what exists today.
We believe disciplined property lending begins with understanding the value, condition and marketability of the security today, rather than relying mainly on future outcomes.
Three lenses on every credit decision
Existing value
Independent valuation and current market evidence help inform the credit decision.
Existing security
Loans are supported by mortgage security over Australian property, subject to the terms of each transaction.
Existing equity
Borrower equity may provide a buffer between the loan exposure and the assessed property value.
An independent valuation is an opinion at a particular point in time. Property values may change and a valuation does not guarantee the amount that could be recovered following a sale.
Current evidence, not future assumptions.
What we can observe today
- Completed property
- Independent “as is” valuation
- Current comparable transactions
- Existing property condition
- Existing rental income where relevant
- Current borrower equity
- Current marketability
What must be forecast
- Forecast completion value
- Projected construction costs
- Future sales prices
- Future leasing outcomes
- Development timelines
- Forecast market conditions
We believe credit assessment should begin with what the security is worth today.
The Fund's permitted investments, restrictions and limits are set out in the current Information Memorandum. Any statement that the Fund excludes construction or development lending will only be displayed if expressly supported by the Information Memorandum.