Project Refinancing of an existing loan and bridge funding until the sale of the property is completed. Loan EUR 46,000, which represents 58% LTV Sources of repayment Loan and interest will be repaid by funds received from the sale of property provided as security. Independent valuation of the security EUR 79,000 Borrower The borrower is a company owned by the landowner. Security The loan will be secured by a first rank mortgage on 3,760 m2 land plot below an apartment building located in one of the most popular residential neighbourhoods in Riga. The landowner receives regular lease payment from the owners of apartments in the building in line with principles set out in the legislation and annual lease income is in the range of 11 thousand euros. In addition to the mortgage, the borrower will provide a personal guarantee. Repayment term 12 months Payment schedule Loan and all accrued interest will be paid at the end of the loan’s tenure.
Project offered by