Pesapuu 11, Meremõisa (I)

The Sponsor is building one-family house at Pesapuu str. 11, Meremõisa municipality, Lääne-Harju parish, Harju country. The project is located 30 min away by car from the Tallinn city centre. 

Sponsor asks for financing the project construction costs and release of capital in total amount of EUR 170,000. The construction price is EUR 154,000 w/o VAT. The project financing is organized in several funding rounds. The amount of the first round is EUR 100,000. 

Loan will be used to finance the construction of Pesapuu str. 11 one family house. The loan is secured by a first-rank mortgage on Pesapuu str. 11, Meremõisa municipality, Lääne-Harju parish immovable with a net market value of  EUR 164,000 according to valuation report and completed construction works confirmed by construction supervision. The current LTV of the project is 60,9%. The maximum planned LTV during the project is 70%.

The house living area is 109,5 m². There is no pre-sale agreement signed. The plot owner is a private person.

Construction is in progress: Pesapuu str. 11 one-family house is 55% completed.

Loan period is 12 months and interest rate is 9% on an annual basis. Interest is paid as a lump sum at the end of the loan period or when the house is sold.

The future value of completed house at Pesapuu str. 11, Meremõisa municipality is EUR 280,000 w/o VAT, as the owner of the land is a private person.