Australia's #1 body corporate lender is now in New Zealand
Bypass lump sum panicwith body corporate finance
Hear it from Josh
Your body corporate can borrow. Here's how.
Josh Klemm works with bodies corporate across New Zealand. Here are the questions owners ask - short answers, plain English, no jargon.
Who we are
Lannock body corporate finance is now available in New Zealand
Most people do not know a body corporate can borrow. It can.
When your building needs major work, there are three ways to pay. One large one-off levy. Waiting and saving for years while costs climb. Or a body corporate loan.
Lannock pioneered body corporate finance in Australia in 2004 and has led the way ever since. Our loan has been refined across thousands of funded projects in Australia, now available in New Zealand.
Your body corporate draws money (in New Zealand dollars) as the work progresses. You pay interest only on what you have drawn. The rest waits until you need it, at no cost.
We lend to the body corporate, not to individual owners. No personal guarantees. No mortgage over your unit. Repayments run over a term your body corporate agrees, collected through your normal levy cycle.
Your committee deals directly with our expert team. Plain English. Clear answers. No jargon. The same people beside you for the life of the loan.
- #1Body corporate funder across ANZ
- 20+Years pioneering body corporate funding
- 1000sUnit title communities helped across ANZ
- 1000sUnit title communities funded across ANZ
Why borrow
What a Lannock Loan lets you bypass
Bypass lump sum panic and special levy shock
Borrowing enables you to avoid the financial stress caused by large special levies. You can be sure you have the funds to do the work rather than hoping that all owners can pay the special levy on time.
Borrowing gives the freedom to get important capital works done now. You save money compared with maintenance funds and special levies. Draw down the funds as you need it, you only pay for what you use when you use it.
Bypass costly project delays and funding deadlocks
Borrowing enables you to get important works done now rather than having to pause and wait as you accumulate the money. Delaying important projects can raise the project cost, put more stress on the building and expands the scope of work if damage spreads.
Getting work started means you get the benefits of improved lifestyle and enhanced capital return now rather than having to wait. You can get all the works done in one go, rather than having to manage a staged project.
Bypass funding friction and project confusion
The main feature of a Lannock loan is flexibility and choice. You can draw as many advances as you need. You have the flexibility with each advance to specify: Term of Advance (1 to 15 years); Interest Only Period (up to 2 years); And, you only pay for what you use, when you use it.
We make a loan to the body corporate as a legal entity, not the individual. There are no mortgages, no liens, charges or caveats or any registration or impediment on the title of the common property or of any unit.
Understand what a body corporate loan means for you
Interested in finding out more? Download our one-page overview.
A simple introduction to how body corporate finance works. Share it with your owners, then talk to our team. We help committees and owners understand the funding options available so they can make an informed funding decision.
Or call 0800 250 007Monday to Friday, 8.30am to 5pm New Zealand time.
Send me the one-page overview
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The process
How it works
Three steps, from the first enquiry to the first drawdown.
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Get started online in 2 minutes
Click here to complete our Funding Proposal Form. You will need your Body Corporate details, along with the requested facility amount and loan purpose.
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Get a tailored Funding Proposal in 48 hours
We'll send a Funding Proposal with indicative rates and repayments. Once tailored to your project, we'll provide a Facility Agreement and Motions to be tabled at the General Meeting for approval.
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Draw down funds as needed
After your credit assessment is complete (usually 2 days), we'll notify you of loan approval. Simply draw down funds as required each Thursday, with instructions and documentation required the Thursday prior. Repayments are made by direct debit monthly, with statements issued quarterly.
Joshua Klemm
Talk to the person who will handle your loan
One named contact, from first enquiry to final repayment. Not a call centre, not a ticket queue.
Frequently asked questions
Questions committees and owners actually ask
Is a body corporate loan my personal debt?
No. The loan belongs to the body corporate as a legal entity. It does not appear on your personal credit file and isn't linked to your mortgage.
Why borrow instead of raising a special levy?
A levy asks every owner to produce their share inside a short window, regardless of their situation. Some can, some cannot. Collecting funds takes time that stalls the project and divides the building. A loan spreads the same cost across manageable and flexible repayments to suit your project's needs.
What happens if I sell my unit?
The loan is to the body corporate, not you as the individual, so if you sell your unit the repayments are taken over by the new owner through the regular levy cycle. The loan stays with the unit.
Who do I ask if I have questions specific to my building?
We are here to help, call us on 0800 250 007.