#6268 Bridge loan - 1.stage (Lithuania) Funded: 30.01.2023
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 release equity capital for the sales period.
- The loan will be repaid from the sale of the collateral property
- 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 68.2% and can increase to 69.0% in further stages.
|Loan Contract Number|
335 investors, €137,000 raised
Collateral value €201,000
Projected LTV 69.0%
Loan Period 12 months
Schedule Type Bullet
Mortgage Rank First rank
Collateral Type Apartment (Residential)
Loan Type Bridge loan
Loan Type Sub-Category Sale advance