#6333 Development loan - 22.stage (Lithuania) Funded: 03.02.2023
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 for a preparation period of a development project plus starting the first construction work.
- 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, 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 22 stage is 64.2% and can increase to 65.0% in further stages.
|Loan Contract Number|
288 investors, €36,200 raised
Collateral value €1,229,100
Projected LTV 65.0%
Loan Period 12 months
Schedule Type Bullet
Mortgage Rank First rank
Collateral Type Residential
Loan Type Development loan
Loan Type Sub-Category New construction