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We are reglamented by
Dubravų st. 60, Kaunas, Lithuania (1 stage)
Amount of funding
25 000 €
LTV
60%
Annual interest rate
14.00% - 15.00%
Total expected project return
14.00% - 15.00%
Loan period
12 mo.
Risk
C (higher)
Purpose of the loan
Development loan
Collateral
Real estate pledge
Country
Lithuania
Lithuania
Investors
60
Raised:
25 000 € Goal:
25 000 €
25 000 € Goal:
25 000 €
100.00%
| # | File name | File type | Actions |
|---|---|---|---|
| 1 | Rekarta nuostatai.pdf |
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| 2 | Turto vertinimo ataskaita.pdf |
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| 3 | PIID (1 etapas) (25 000 EUR).pdf |
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About the loan
Purpose of the loan
Real estate development
Amount of funding
25 000 €
LTV
60 %
Risk
C (higher)
Payment of interest
Every month
Loan repayment
At the end of the loan period
Loan period
12 mo.
Minimum loan period
4 mo.
Collateral
Real estate pledge
Guarantees / surety
Mortgage rank
First order mortgage
Amount allocated by project owner
46 400.00 €
The purpose of the loan
The amount of EUR 79 560 is required for the financing, which is raised in several stages. The loan proceeds will be used for a project to convert the mortgaged properties into a residential building with 4 apartments and a furnished attic, changing the main use of the building to residential. The conversion of the existing building has already started. The project loan will be repaid from the proceeds of the sale of the property to be developed or by refinancing it with another financial institution. The amount that the project owner himself is contributing to the project is EUR 46 400.
About the project
The mortgaged property consists of a plot of land with three properties, an outbuilding and two garages. All buildings are connected by a common wall and belong to the category of ancillary farm buildings. The project consists in the conversion of the listed property into a residential house with 4 flats and a loft, changing the main use of the building to residential.
Land plot: unique No.: 4400-1985-5351; area: 0,0694 ha (694 sq. m.); designation: other, type of use - residential areas, type of use - construction of low-rise residential buildings. The plot is flat, rectangular in shape, suitable for the construction of a residential house or for the continuation of reconstruction/design. The access is asphalted Dubravų street.
Maintenance building: unique No. 5298-1022-9026; year of construction: 1982; built-up area: 85 m²; construction: reinforced concrete strip foundations, brick walls, reinforced concrete slabs, slate gable roof. Interior condition: in need of repair, part of the engineering systems dismantled.
The building is connected to two garages. Garages: unique No.: 5298-1022-9037 and 5298-1022-9048; built-up area: 41 m² and 34 m²; construction identical to the outbuilding. No interior finishes. Suitable for storage, reconstruction or conversion.
The assessors have carried out a legal, technical and economic analysis and found that: the existing use (auxiliary farm) is not the most cost-effective use. As the use of the site allows the construction of a low-rise residential building, the best and maximum use of the property is: Conversion to a residential use, the construction of a new residential building or the conversion of the existing buildings into residential accommodation.The conversion and reconstruction of the existing building has already started (new roof structure, possibility of residential space in the attic).This confirms the real, continuous and economically feasible potential for transformation of the property.
Factors affecting the project:
- Attractive, quiet area.
- Market liquid Kaunas area (Vaišvydava).
- Opportunity to build a new residential house or to complete a reconstruction.
- Lots of large area in this zone are in demand due to an attractive price range and low maintenance costs.
- Demand for modern detached houses is high in the region.
- Essential structures are old, requiring capital works.
- Change of use procedure is required (in case of an alternative use).
Liquidity assessment
- The combination of the site and the characteristics of the property suggest that:
- the property is liquid,
- the market can be disposed of in a shorter than average sales period,
- the possibility of redevelopment enhances its attractiveness.
Evaluators' conclusion: Taking into account the location of the mortgaged property and its attractiveness, the existing use of the site and the potential for redevelopment, the market demand, the analysis of the best use of the property, the property is assessed as an attractive long-term investment with a high liquidity.The most efficient and economically viable use of the mortgaged property is the construction of a residential house or the conversion of existing structures to residential use.
For more information about the project (see Documents).
We inform you that the employees of UAB Nordstreet (company code 304565690) are investing in this project.
Investment from 50.00 €.
Interest
Annual interest rate
- Investing from 50.00 € - fixed interest 14 %
- Investing from 1 000.00 € - fixed interest 14.25 %
- Investing from 3 000.00 € - fixed interest 14.5 %
- Investing from 5 000.00 € - fixed interest 14.75 %
- Investing from 7 000.00 € - fixed interest 15 %
The Interest on the Loan Amount shall be calculated from and including the date of disbursement of the Loan Amount to the Debtor's Account or to such other account (or accounts) as notified by the Debtor to the Operator in writing prior to the disbursement of the Loan Amount.
Loan term and repayment
Loan period
12 mo.
Minimum loan period
4 mo.
Loan repayment
At the end of the loan period
Estimated start date of the loan:*
2025-11-28
Estimated loan repayment date:*
2026-11-28
If the Debtor repays the Loan earlier than after the specified minimum loan period, it undertakes to pay interest to the Lender for the entire specified minimum period.
* The loan is planned to be repaid by the end of the project term from the expected growing income of the company, increasing profits, sale of assets or refinancing of the loan.
Procedure for disputes between parties to a financing transaction
The investor has the right to withdraw their investment within 96 hours from the submission of the money lending proposal on the platform
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