Nordstreet guarantees safe investment - (I) The ratio of project to LTV (loan to value) will not exceed the LTV ratio provided in the project description if the project will be funded in stages; (II) If the required financing amount is not collected before the start of the project, all investments will be returned to the investees.
Nordstreet informs that the borrower will fully cover the existing loan on the Nordstreet platform with a secondary mortgage (amounting to EUR 60,000) before the end of this funding, and that as the value of the project is increased, new funding for a larger amount will be collected to finance further work.
This funding will be secured by a secondary mortgage (the current subordinated mortgage will be repaid), as the borrower has already reserved the required funds to cover the existing mortgage loan in his account.
The object of the loan is a residential building that has already been successfully funded on the Nordstreet platform in Kėdainiai, Kaunas County, which needs additional funding to complete the final building installation, with a secondary mortgage on the property.
The loan has an additional amount of EUR 90,000 (ninety thousand euros).
Loan term: 12 months.
Loan annual return on investment: 13%
Project annual return on investment 13%
Loans are pledged for 14 residential properties with a value of EUR 504,000. (five hundred four thousand euros).
Loan-to-value ratio of 68% (Secondary Mortgage). (Primary Mortgage Holder Nordstreet)
The interest on the loan is calculated from the date of the project's fully funded project (pre-determined end date of the auction) and paid monthly.
The loan is repaid by selling the dwellings before the end of the project, or by refinancing the company.