#6333 Development loan - 28.stage (Lithuania) Funded: 29.03.2023
This loan is intermediated by Estateguru OÜ. For the general loan terms applicable to this loan, please see the Estateguru General Loan Terms.
Executive Summary
- 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 28 stage is 64.52% and can increase to 65.0% in further stages.
Quick Overview
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Interest 11.0%
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Status Funded
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Target €23,702
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Collateral value €1,368,300
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LTV 64.52%
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Projected LTV 65.0%
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Risk category
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Loan Period 12 months
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Schedule Type Bullet
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Mortgage Rank First rank
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Collateral Type Residential
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Loan Type Development loan
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Loan Type Sub-Category New construction
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Location Lithuania
