Credit description
Loans that will be used for the purchase of a building to be redeveloped.
Mostly it is a vacant house/apartment whereby light refurbishment and reconstruction activities have to be done.
After the reconstruction, the building will often be offered for sale and the financing redeemed.
Also, it is possible that after the delivery of the construction activities a second tranche of the Loan can be applied for.
Why a construction financing via us?
- There is time pressure, since the purchase of the building must take place quickly.
- You have no “borrowing capacity” anymore with one or various banks.
Abbreviated terms and conditions:
- Scope From €250k to several millions.
- Tenor Between 6 and 24 months.
- Form Only first mortgage possible.
- Interest rate From 0.85% per month, dependent on the subject of the surety and “Loan to value”.
- Redemption Redemption-free during the tenor.
Fees:
- Signing fee: € 650 + up to 2% over the used credit amount.
- Taxation cost will be borne by the Borrower.
- Legal costs will be borne by the Borrower.