#5602 Development loan - 1.stage (Lithuania) Funded: 16.02.2023
This loan is intermediated by Estateguru Lietuva, UAB. 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 sales revenue of a completed development project.
- 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, provided that the ratio of the loan and the market value of the collateral (LTV) does not exceed 69.0%.
- The established mortgage will also cover loans of additional stages of financing.
- Prior to the additional stages 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 the 1 stage is 61.9% and can increase to 69.0% in further stages.
|Loan Contract Number|
496 investors, €62,500 raised
Collateral value €101,000
Projected LTV 69.0%
Loan Period 12 months
Schedule Type Bullet
Mortgage Rank First rank
Collateral Type Semi-detached house (Residential)
Loan Type Development loan
Loan Type Sub-Category New construction