#0918 Bridge loan (Estonia) - Fully Invested Fully invested: 14.11.2018
- The loan is used to finance the purchasing of a property and to continue with construction.
- 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.
- EstateGuru adds a 1% bonus to annual interest for investments of at least €10,000 (combined annual interest 12%).
- The borrower raises capital to purchase a residential land plot from another EstateGuru borrower. In connection to this transaction, Hansu st development loan - 1.stage (€310 000 + accumulated interest) will be fully repaid. The new borrower will take over the development project and start the preparation works in order to receive a new construction permit.
- The loan collateral is located in Haabersti suburb, in Tiskre area, next to the sea. The detailed planning is established and has a building permit for two residential developments (3-storey apartment building with 6 apartments and a detached house with 9 boxes). The area has a demand for the apartments as well as detached houses. In addition, magnificent sea views are opening from the plot.
- The borrower intends to build a 6-apartment apartment house with a utility floor area of 380m2 and detached house with 9 boxes of 1800m2. The borrower begins firstly with the construction of the detached house. The sketch project has been already approved by the city council and the pre-project is underway to be confirmed. The borrower plans to receive the building permit in the upcoming 3-6 months.
- The ratio of the loan amount to the value of building right/permission is 105 €/m2.
- The ratio of the loan amount to the value of the plot area is 57 €/m2
- The borrower has previously raised capital for three different projects through EstateGuru platform, from which one has been already fully repaid with (€200 000 + accumulated interest) and for the two other loans, the interest payments have been done every month in an accurate manner.
From 23.10.2018 we are adding a cashback bonus to all investments that are confirmed until 28.10.2018.
+ 0.5% cashback bonus will be applied to all investments above €1,000
+ 1.0% cashback bonus will be applied to all investments above €10,000
|Loan Contract Number|
Interest 11.0%+1.0%Investment > €10,000 = 1.0% bonus
70.0% filled, 977 investors
Expires Fully Invested
Collateral value €500,800
Loan Period 18 months
Schedule Type Bullet
Mortgage Rank first rank
Mortgage Type Land plot with a right to build
Loan Type Bridge loan