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Plot 27 - Callosa, Alicante - Stage 3
Amount of funding
100 000 €
LTV
61%
Annual interest rate
13.00% - 15.00%
Total expected project return
11.91% - 13.75%
Loan period
11 mo.
Risk
C (higher)
Purpose of the loan
Development loan
Collateral
Real estate pledge
Country
Spain
Spain
Investors
174
Raised:
100 000 € Goal:
100 000 €
100 000 € Goal:
100 000 €
100.00%
| # | File name | File type | Actions |
|---|---|---|---|
| 1 | Autorización del Plan Parcial.pdf |
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| 2 | Catastro verificado.pdf |
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| 3 | Nota simple - 13 de abril.pdf |
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| 4 | Proyección de costes arquitectos VISADO.pdf |
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| 5 | Sierra Verde Sustainable Houses (ENG).pdf |
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| 6 | Tasación preliminar.pdf |
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| 7 | Specifications - house 27.pdf |
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| 8 | Tipo-C+_EN.pdf |
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| 9 | Tipo-C+_ES.pdf |
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| 10 | Tipo-C+_PL.pdf |
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| 11 | Tasación solar Callosa.pdf |
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| 12 | 7522 23_Legal_report.pdf |
|
About the loan
Purpose of the loan
Real estate development
Amount of funding
100 000 €
LTV
61 %
Risk
C (higher)
Payment of interest
Once per quarter
Loan repayment
At the end of the loan period
Loan period
11 mo.
Minimum loan period
6 mo.
Collateral
Real estate pledge
Mortgage rank
First order mortgage
PHASE 3 and last phase of the project
Summary: The loan of 250,000 euros is requested in order for Sierra Verde SL to purchase plot 27 of the land to build the house. You will remember that Sierra Verde SL has an agreement with the owner of the land, Uca Sarria SL, to develop and build the partial plan approved in the town hall of Callosa, for the construction of 40 houses.
This plot costs us 55.000 euros; the construction of the house 567.954 euros and is on sale for 910.000 euros. The rest of the loan capital will be put into the construction and advertising of the house.
Of the total budget for the house, a total of 53,000 euros has been invested to date: 25,000 euros in land movement and preparation (Chapter 1 of the budget); 15,000 euros in the structure (Chapter 3); and 13,000 euros in the swimming pool. It may not seem much, but before this, architects had to be commissioned with the projects and plans, and the general urbanisation of the land had to be prepared.
The house is large and luxurious, with three floors, basement, swimming pool and separate garden. Although the materials are of high quality, we would like to keep the price of the house under one million euros. The most demanded segment in the area right now is between 400 and 950.000 euros. There is a lot of interest and we are constantly visiting the construction site. It will be sold before the summer.
It has an estimated completion date of June 2023.
Investment from 100.00 €.
Interest
Annual interest rate
- Investing from 100.00 € - fixed interest 13 %
- Investing from 1 000.00 € - fixed interest 13.25 %
- Investing from 3 000.00 € - fixed interest 13.5 %
- Investing from 9 000.00 € - fixed interest 13.75 %
- Investing from 15 000.00 € - fixed interest 14 %
- Investing from 20 000.00 € - fixed interest 14.5 %
- Investing from 25 000.00 € - 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
11 mo.
Minimum loan period
6 mo.
Loan repayment
At the end of the loan period
Estimated start date of the loan:*
2022-09-21
Estimated loan repayment date:*
2023-07-24
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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