#8188 Development loan - 10.stage (Estonia) Funded: 30.11.2022
This loan is intermediated by Estateguru OÜ. For the general loan terms applicable to this loan, please see the Estateguru General Loan Terms.
- The loan is used to continue construction works.
- The loan will be repaid from the sale of the collateral property or refinancing by a long-term bank loan.
- The loan is secured with a first rank mortgage.
- Member of the management board of the borrower will provide a personal surety in the full mortgage amount.
- The borrower retains the opportunity to raise additional capital, if necessary, as the collateral value increases.
- The mortgage was established during a prior financing process and will also cover additional stages of financing.
- Prior to the next stage of financing, construction supervision must confirm the completed works (if construction has commenced and works have been performed in a considerable amount) and a third party must assess the market value of the collateral.
- The LTV in 10 stage is 57.75% and can increase to 69.0% in further stages.
- The loan is being refinanced to give the borrower more time to conclude pre-construction actions (land development).
|Loan Contract Number|
110 investors, €15,024 raised
Collateral value €738,667
Projected LTV 69.0%
Loan Period 12 months
Schedule Type Full bullet
Mortgage Rank First rank
Collateral Type Apartment (Residential)
Loan Type Development loan
Loan Type Sub-Category New construction