May 17, 2021

Update from the originator:

We would kindly like to inform you about a few changes regarding the terms and conditions of the loan:

  • Borrower, “Avanti Housing CIC”, provides a loan to its directors in private so that the intended property is purchased as presented and is converted in accordance with the purpose as stipulated in the loan agreement.
  • As an added security, an initial mortgage is privately offered to the Security Trustee by the owners since it favours investors. The initial mortgage is therefore not provided by the company, as is currently stated.
  • Under English law, the mortgage cannot exceed the principal sum of the loan (€ 267,800) plus all additional interest, penalties and costs owed by the borrower. It, therefore, remains the same in relation to the principal sum of the loan.
  • The private security deposit of €125,000 is unchanged and remains applicable.

May 06, 2021

Update from the originator:

The originator has received the note from admin: since planning approval is expected to take another 3 months, we have lowered the minimum loan amount to € 250,000 which will cover the purchase of the property. All other loan terms remain as-is.

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