Funding Solutions
Finance to Finish Your Renovation Before You Sell
When the work's nearly done, and it's the last bit of funding standing in the way
The renovation's close to finished, or already is, and what's left is the cost to get it fully ready for market. Flexy lends against the equity you already hold in the property to cover that shortfall, secured behind your existing bank mortgage, so the sale doesn't wait on the last stretch of work.
Up to $150,000
Offers within 24 hours
How Flexy helps
We lend against the equity in the property you already hold as a company or trust, without disturbing your existing bank mortgage. Because the renovation is well underway or complete, the remaining cost to finish is usually well defined, and that's what we assess the loan against.
Your exit is usually the clearest part of the application: the sale you're preparing the property for.
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Which Flexy loan is right for you?
Both loans release the equity in your property. The difference is how you repay. Pick the one that matches your cash flow and your exit.
Product
2-Year P&I Equity Release
Borrow up to $50,000 against your property equity and repay it steadily through regular principal and interest payments over up to 24 months. Your balance reduces with every repayment and your bank loan stays in place.
Eligibility criteria: You will need sufficient cash flow to support regular repayments to qualify.
Term: Up to 24 months
Repayments: Principal and interest
Principal: Repaid progressively
Product
Short-Term Equity Release
Borrow up to $150,000 against your property equity for 3 to 12 months, with interest-only repayments and the principal repaid as a lump sum at the end. Your bank loan stays in place, no refinancing required.
Eligibility criteria: You will need a suitable lump-sum repayment plan is required to qualify
Term: 3-12 months
Repayments: Interest only
Principal: Repaid at end of term
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Why it worked: Renovation funds for a trade project, ready to sell
The situation
A trade project needed renovation funds secured against the property, to prepare it for sale.
What we did
We funded $56,000 against the equity in the property, secured behind the existing bank mortgage.
The outcome
The renovation was completed and the property was prepared for sale, as planned.
Why it worked: The shortfall on a finished renovation
The situation
A renovation was complete, but a shortfall remained on the trade property's costs.
What we did
We funded the $12,276 shortfall against the equity in the property, secured behind the existing bank mortgage.
The outcome
The project was fully funded, with nothing left outstanding on the renovation.
Why it worked: Finishing a renovation and reaching Code Compliance before sale
The situation
An investor was finishing off a renovation and needed Code Compliance on a minor unit to prepare the property for sale.
What we did
We funded $40,000 against the equity in the property, secured behind the existing bank mortgage, to complete the work and reach Code Compliance.
The outcome
Code Compliance was achieved and the property was prepared for sale, as planned.
How Flexy lending works
01
Apply online in minutes
Provide your property address, the amount you need, the purpose of the funds and your repayment plan.
02
Fast assessment
Flexy reviews your available equity, LVR and ability to service the loan. Once we have a complete application, we aim to issue a loan offer within 24 hours.
03
Receive your funds
Accept the offer, complete the remaining requirements through your online portal, and Flexy arranges settlement. Caveat loans can fund within days. Repeat clients can be funded same day.
Related purposes
Read about the other purposes Flexy can fund, and find the right option for your situation. Flexy offers two pathways, depending on your exit strategy: a short-term loan with a lump-sum repayment, or a 2-year option you repay gradually as you go.
Instant estimate
How much can I borrow?
See what your property equity could unlock. Enter a few details for a free, instant estimate, with no obligation and no effect on your existing bank mortgage. It takes about a minute.
Flexy is a direct lender, so you deal with the decision-makers directly. Your existing bank loan stays in place, no refinancing required. No tax returns or profit and loss statements to gather, and loan offers are issued within 24 hours of a complete application.
Frequently asked questions
Can I get funding to finish a renovation I've already started?
Does the bank need to know about this loan?
How is this loan repaid?
What happens if the sale takes longer than expected?
What if my bank has already funded part of the renovation?
Prefer to talk it through?
Call 021 294 8742 or email hello@flexy.co.nz
Lending is subject to approval. Loans are available to New Zealand companies and trusts for business or investment purposes only. Interest rates, fees and lending criteria may change without notice. Flexy Limited, FSP1006845. Terms and conditions apply.
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Is this your situation?
The renovation is close to finished, or already is, and you're preparing the property for sale
There's a known, remaining cost to complete the work or get Code Compliance
Your bank funded the renovation itself, but won't cover the final push to get it ready for sale
You plan to repay from the sale once the property's on the market
You'd rather not touch your existing bank mortgage to get there
If any of these sound familiar, we can usually give you an answer within 24 hours.
What situations we help with
