Skynimų str. 2, Panevezys, Lithuania (Loan refinancing)

 Refinancing
Project listed: 13.10.2020
Panevezys,
Lithuania
11%
Annual yield
49%
LTV
Term: 12 months
Mortgage rank:
First
Interest payment schedule:
Monthly
Interest payments
30.11.2020
Pending

Project updates

Login to subscribe on project updates

Ask a question

@
Allowed characters: a-z, 0-9. Min 3 characters
${question.length}/${maxQuestionLength}

Risk rating

CriteriaRating
Macro Location AnalysisB+
Financial CostD+
Loan To valueA+
Borrower's experienceD-
PresalesD-
Mortgage GuaranteeA+
Project MarginD-
EvoEstate Risk rating is of an informative nature only and can not be considered investment advice.
Project rating
B-
Originator rating
A-

Descripton

Introduction

Purpose of financing:

  • Refinancing of an existing loan on the Nordstreet platform. You can view the original refinanced loan here.

Loan protection:

  •  Mortgage of a residential house and land (according to the property valuation list) with a primary mortgage

Project return on investment and interest payment

  • Investing from 100 € Annual investment return on the project from 11% (investment details are described in section Detailed information) Interest of the loan is calculated from the end date of the auction and is paid monthly.
  • The annual investment return on the project from 11% (investment details are described in section Detailed information)
  • The interest of the loan is calculated from the end date of the auction and is paid monthly.

 

Nordstreet takes these measures to protect your 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 invested persons. Upon application by the Borrower, 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.
  • 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.

Business loan terms

The object of the loan

The object of the loan is real estate used by the company's shareholders, which requires refinancing.

To ensure the need for financing, the borrower pledges the existing real estate located at Skynimų str. 2, Panevėžys.

The mortgaged property consists of a private plot of 0.1499 ha, a residential building. The total area of ​​the building is 179.94 sq. M. m.

Loan Terms

  • Loan amount: € 72 000
  • Loan term: 12 months
  • Minimum loan term: 2 months
  • Value of the mortgaged property: € 145 000
  • LTV (Loan-to-value ratio):  49%
  • Project risk: C (higher). 
  • Loan Protection:  Primary order Mortgage

Interest - annual return on investment

  • Investing from 100 € - interest 11% 
  • Investing  from 2,500 € - interest 11.5%
  • Investing from 7,500 € - interest 12%
  • Investing from 20,000 € -  interest 12.5%

Interest on the Loan amount shall be calculated from the date (inclusive) on which the Loan amount is paid to the Borrower's Paysera account or to such other account (or accounts) as the Borrower shall notify the Operator in writing prior to the disbursement of the Loan amount. Interest is paid monthly. The invested amount is repaid at the end of the loan term.

Loan Period

 

Loan term: 12 months (with the option to repay earlier, but not earlier than 2 months).

If the Borrower repays the Loan Amount or part thereof less than 2 months after the due date of 12 months, the Borrower undertakes to pay interest to the Lender for a period of 2 months. After a period of 2 months, the Borrower may repay the loan at no additional charge.

 

Loan repayment period

 

Expected loan start date: 2020 10 18

Expected loan repayment date: 2021 06 18 - 2021 09 18

Borrower

The beneficiary and administrator of the project is UAB "Norbalta", the owners and shareholders of which administer the company's real estate. The company's activities currently include supervised real estate, its lease, operations and administration, as well as the development of the activities of related companies.

UAB Norbalta has extensive experience in the trade, which is shown by its achieved turnover, which in 2017. amounted to EUR 1.08 million in 2018. 6.5 million euros, and in 2019. EUR 4.7 million

UAB Norbalta also cooperates with scientific institutions, where it prepares material and together with KTU University researchers develop a joint project "Experiment LT".

The company also pays interest to investors on the Nordstreet platform, but it is important to note that payments are not always made on time.

Loan protection collateral

Loan

The financing requires an amount of € 72,000 to be used to refinance an existing loan on the Nordstreet platform.

Loan collateral

Mortgage of the first line of existing real estate - Mortgage. 

The value of the property is € 145,000. 

Investment risk: C

LTV:  49%

Mortgaged property

The value of the pledged property is 145 000 €

1) 0,1499 sq.m land 

2) 179,94 sq.m building

 

Loan protection Information

  • The mortgaged property is property and land owned by it and the property is valued at € 145,000, according to the report.
  • Address of the mortgaged property: Skynimų str. 2, Panevezys, Lithuania
  • Property type: buildings and land
  • Property type: 1) plot of land / other / residential areas, 2) building - residential use,
  • Value of the mortgaged property: € 145 000
  • Documentation: Report of the Property Valuation
  • Date of report: October 1. 2019
  • Assessor: UAB Verslavita
  • Mortgage: A first-line mortgage

Strengths and risks

SWOT analysis of the project beneficiary:

 

Strengths - The borrower pays interest to investors on the Nordstreet platform for the financing received.

Weaknesses - The borrower did not always make payments on time and was late in making interest payments.

Options - The average annual interest rate of interest paid by Nordstreet to the Borrower is 10.76%. (details of the available loan)

Threats - Possible delays in the borrower's payments.

               - The borrower has had legal disputes and arrests.

              - If the collateral is encumbered, then the loan financing will not be granted.

Project originated by:

Documentation

11%
Annual yield
49%
LTV
Term: 12 months
Mortgage rank:
First
Interest payment schedule:
Monthly
Interest payments
30.11.2020
Pending
Get emails about all
NORDSTREET
projects