Projects list

Land project in Latgalos str. Palangos city municipality, Lithuania (2 nd rate mortgage)

Project cancelled

Amount of funding 190 000 €

LTV 85%

Annual interest rate 10.00% - 11.25%

Total expected project return 5.83% - 6.56%

Loan period

7 mo.

Risk

C (higher)

Purpose of the loan

Development loan

Collateral Real estate pledge

Country

Lithuania

Investors 0

Raised:
0 € Goal:
190 000 €

0.00%

How much will I earn if I invest:

Investment size

100.00 €

190 000.00 €

10% 10.25% 10.5% 10.75% 11% 11.25%

With this project in one month I will earn

€

After 12 months I will earn

€

* This calculator is exemplary and provides approximate results. Please note that the actual earnings may differ from the results provided by the calculator

Business loan terms

About the loan

Purpose of the loan Real estate development

Amount of funding 190 000 €

LTV 85 %

Risk C (higher)

Payment of interest Every month

Loan repayment At the end of the loan period

Loan period 7 mo.

Minimum loan period 1 mo.

Collateral

Real estate pledge

Mortgage rank Second order mortgage

Purpose of the loan

The funding required for this phase is EUR 389 000, which will cover the development and construction of the project and will be financed in 2 phases. Construction work has already begun under the issued building permit. The loan will be repaid from the proceeds of the sale of the property or by refinancing at another financial institution.

It is important to mention that more than 35% of the Property under development has already been sold, i.e. preliminary agreements have been signed with an advance payment of at least 15%.

About the project

Currently 30 houses are being designed, each with an area of 100 m2. The company has already invested up to 400 TEUR in the company's own funds. The raised funds will be used to finance construction works, as the materials have been purchased in advance. Reservations are already in progress. More about the project https://j7.lt/. ”

Investment from 100.00 €.

Interest

Annual interest rate

Investing from 100.00 € - fixed interest 10 %
Investing from 500.00 € - fixed interest 10.25 %
Investing from 1 500.00 € - fixed interest 10.5 %
Investing from 3 000.00 € - fixed interest 10.75 %
Investing from 9 000.00 € - fixed interest 11 %
Investing from 15 000.00 € - fixed interest 11.25 %

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 7 mo.

Minimum loan period 1 mo.

Loan repayment At the end of the loan period

Estimated start date of the loan:* 2022-02-05

Estimated loan repayment date:* 2022-08-12

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

Debtor

Company title LTD Ritata

Company code 305697467

Company registration address

Company website https://j7.lt/

UAB "Ritata" engaged in real estate development in Monciškių, Latgalių and Baltų streets in Palanga. In 2021Y balance sheet assets amounted to 1.8 million EUR based on the submitted financial statements of 2021 IIIQ, including fixed assets of 0.4 million EUR, current assets 1.49 million EUR, equity 46 TEUR, sales 198 TEUR, net profit 35 TEUR.

Loan protection collateral

Pledged second real estate mortgage property:

Land plot (unique No. 4400-0390-5506), 0.1493 ha, address: Latgalos str. 7, Palanga city municipality, Lithuania;
Land plot (unique No. 4400-0390-5646), 0.1384 ha, address: Latgalos str. 9, Palanga city municipality, Lithuania;
Land plot (unique No. 4400-0390-5828), 0.2000 ha, address: Latgalos str. 10, Palanga city municipality, Lithuania;
Land plot (unique No. 4400-0390-5354), 0.2000 ha, address: Latgalos str. 12, Palanga city municipality, Lithuania;
Land plot (unique No. 4400-0390-5571), 0.1557 ha, address: Latgalos str. 13, Palanga city municipality, Lithuania;
Land plot (unique No. 4400-0390-5693), 0.1681 ha, address: Latgalos str. 15, Palanga city municipality, Lithuania;
Land plot (unique No. 4400-0390-5760), 0.1723 ha, address: Latgalos str. 17, Palanga city municipality, Lithuania;
Land plot (unique No. 4400-0390-5782), 0.1718 ha, address: Latgalos str. 19, Palanga city municipality, Lithuania;
Land plot (unique No. 4400-0390-5252), 0.1758 ha, address: Latgalos str. 21, Palanga city municipality, Lithuania.

Value of pledged property: EUR 690 000.

The advisory value of the existing Property with buildings (unregistered) is EUR 1,350,000.

The first order of real estate pledge - mortgage is also secured on the Nordstreet platform, where a loan of EUR 197 500 was granted.

Location

Between Palanga and Šventoji. The neighborhood is being developed in a quiet location, halfway between the major seaside resorts, making it a great place to appreciate privacy and tranquility without the added hustle and bustle of the city. Convenient location for bicycle trips to Palanga or Šventoji, asphalt road to the residential are and paved path to the door.

Strengths and risks

Strengths:

The borrower made payments on time and without delay. (current loan at Nordstreet)
The second rate real estate mortgage.

Weaknesses:

The borrower has been operating for less than a year.
Borrower 's activities are in a competitive sector.
The LTV rate of the project is high.

Possibilities:

The annual interest rate payable by the borrower is 10.00-11.25%.

Threats:

Uncertain economic situation.
Property is in development stage.
Rising cost of building materials.

Important

Nordstreet takes the following measures to ensure a safer investment:

The loan to value ratio of the project will not exceed the LTV ratio provided in the project description, including in cases when the project will be financed in stages.
If the required amount of funding is not collected before the start of the project, all investments will be returned to the investors. Upon application by the Debtor, the financing may be considered to have been successfully completed with a smaller amount collected, the financing of the project may be divided into several stages and / or the financing period of the project may be extended. In these cases, Nordstreet informs the funders and publishes the information on the completion of the project with a smaller amount, the division of the project funding into several stages or the extension of the project funding period on its website together with other information about the project.
By investing in a project, financiers acquire rights of recourse (claim rights). Nordstreet may provide the financiers with the possibility to transfer these claim rights to other users of the platform on the Secondary Market in accordance with the User Terms.
The activities of UAB Nordstreet are supervised by the Bank of Lithuania and UAB Nordstreet is included on the Public List of Operators of Crowdfunding Financing Platforms administered by the Bank of Lithuania.

About the loan

Purpose of the loan Real estate development

Amount of funding 190 000 €

LTV 85 %

Risk C (higher)

Payment of interest Every month

Loan repayment At the end of the loan period

Loan period 7 mo.

Minimum loan period 1 mo.

Collateral

Real estate pledge

Mortgage rank Second order mortgage

Purpose of the loan

It is important to mention that more than 35% of the Property under development has already been sold, i.e. preliminary agreements have been signed with an advance payment of at least 15%.

About the project

Investment from 100.00 €.

Interest

Annual interest rate

Investing from 100.00 € - fixed interest 10 %
Investing from 500.00 € - fixed interest 10.25 %
Investing from 1 500.00 € - fixed interest 10.5 %
Investing from 3 000.00 € - fixed interest 10.75 %
Investing from 9 000.00 € - fixed interest 11 %
Investing from 15 000.00 € - fixed interest 11.25 %

Loan term and repayment

Loan period 7 mo.

Minimum loan period 1 mo.

Loan repayment At the end of the loan period

Estimated start date of the loan:* 2022-02-05

Estimated loan repayment date:* 2022-08-12

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

Loan protection collateral

Collateral

Real estate pledge

Property type

Residential

Mortgage rank

Second order mortgage

LTV

85%

Documentation

Asset Valuation Report

Report preparation date

2022-01-17

Assessor

UAB Ober haus

Pledged second real estate mortgage property:

Land plot (unique No. 4400-0390-5506), 0.1493 ha, address: Latgalos str. 7, Palanga city municipality, Lithuania;
Land plot (unique No. 4400-0390-5646), 0.1384 ha, address: Latgalos str. 9, Palanga city municipality, Lithuania;
Land plot (unique No. 4400-0390-5828), 0.2000 ha, address: Latgalos str. 10, Palanga city municipality, Lithuania;
Land plot (unique No. 4400-0390-5354), 0.2000 ha, address: Latgalos str. 12, Palanga city municipality, Lithuania;
Land plot (unique No. 4400-0390-5571), 0.1557 ha, address: Latgalos str. 13, Palanga city municipality, Lithuania;
Land plot (unique No. 4400-0390-5693), 0.1681 ha, address: Latgalos str. 15, Palanga city municipality, Lithuania;
Land plot (unique No. 4400-0390-5760), 0.1723 ha, address: Latgalos str. 17, Palanga city municipality, Lithuania;
Land plot (unique No. 4400-0390-5782), 0.1718 ha, address: Latgalos str. 19, Palanga city municipality, Lithuania;
Land plot (unique No. 4400-0390-5252), 0.1758 ha, address: Latgalos str. 21, Palanga city municipality, Lithuania.

Value of pledged property: EUR 690 000.

The advisory value of the existing Property with buildings (unregistered) is EUR 1,350,000.

The first order of real estate pledge - mortgage is also secured on the Nordstreet platform, where a loan of EUR 197 500 was granted.

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Land project in Latgalos str. Palangos city municipality, Lithuania (2 nd rate mortgage)

How much will I earn if I invest:

With this project in one month I will earn

€

After 12 months I will earn

€

Please register or sign in to access this information.

About the loan

Investment from 100.00 €.

Interest

Annual interest rate

Loan term and repayment

Strengths:

Weaknesses:

Possibilities:

Threats:

Nordstreet takes the following measures to ensure a safer investment:

Please register or sign in to access this information.

About the loan

Investment from 100.00 €.

Interest

Annual interest rate

Loan term and repayment

Loan protection collateral

Debtor

Strengths and risks

Strengths:

Weaknesses:

Possibilities:

Threats:

Documents

Nordstreet takes the following measures to ensure a safer investment:

Project updates

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