1. What is the Loan Calculator?
The EstateGuru Loan Calculator allows potential borrowers to receive an indicative loan offer for financing the purchase of a particular project listed on the Consorto platform. You will have an opportunity to choose the option to “receive financing offer from EstateGuru“ on particular projects. You can then visit the EstateGuru page to submit a loan quote request. An EstateGuru Loan Manager will take care of clients seeking financing solutions when there are parties interested in purchasing a particular asset. EstateGuru is very excited to partner with a leading investment property listing site like Consorto to offer fast, flexible and tailor-made financing opportunities to real estate professionals.
2. What is EstateGuru?
EstateGuru is the leading Pan-European marketplace facilitating property-backed loans for SMEs and carefully selected investment opportunities for our global investor base. We are developing a digital and borderless ecosystem for real estate financing and investing in Europe and beyond. By connecting different service providers, SMEs and investors into one single marketplace, we can offer something unique that other financial institutions cannot – the seamless, cross-border and digital service for borrowers and investors.
3. Why has EstateGuru partnered with Consorto?
This is a mutually strategic partnership because, at EstateGuru, we see that financing property purchases might be a painful experience for many companies. Many traditional players in the market such as brick and mortar types of banks are often slow and inefficient with their decision making, however, as everyone knows, in real estate speed is the key aspect. By understanding the property business inside out and knowing the pains and gains of clients, EstateGuru focuses on offering flexible loan products, which suit the clients’ needs. Our process is very straightforward and we act quickly. Having a financing partner allows Consorto to offer an additional value proposition to their clients as well, as it creates a one-stop shop for finding a potential investment object as well as receiving the necessary financing to purchase it.
4. Can you explain the loan request process?
After submitting the loan quote, a dedicated Loan Manager will contact you to address additional touchpoints and clarify details. As soon as we have all the information we need for an indicative offer, we promise to deliver this offer within 48 hours. When clients accept the offer, it usually takes just a couple of days to prepare everything and set up the paperwork and then it depends on the jurisdiction where the asset is located, which affects the setting up of the transaction and mortgage.
5. What is the timeline to get a quote?
48h maximum to receive an indicative loan offer as soon as we have all the necessary documentation and details about an asset that requires financing.
6. What type of loans are offered?
We offer three main loan types: Bridge, Development and Business loans.
7. In what countries do you currently operate?
We are active in 8 countries and expanding further every year – Estonia, Latvia, Lithuania, Finland, Germany, Sweden, Spain, Portugal and, in 2022, we will add the UK and Netherlands.
8. What is the interest rate?
Depending on the asset type, location, LTV, repayment schedule etc, it currently varies between 7- 12% p.
9. Are there any other fees for borrowers?
EstateGuru has only one fee, called the loan origination fee, which is typically 3% of the loan amount as a one-off charge.
10. Who can apply for the loan?
Companies incorporated in the EU, with collateral located in Estonia, Latvia, Lithuania, Finland, Germany, Spain, Portugal, Netherlands, Italy, UK, Ireland can currently borrow through EstateGuru.
11. How long is the loan period?
From 1 to 60 months. We do not have any early repayment fees, so if you actually need money to finance a purchase for just a couple of months, there is no penalty to repay the loan once you receive a long term loan, and you only pay for the actual loan duration.
12. How competitive is the offering?
Very! Not only are our interest rates lower than other non-bank lenders, but we also finance projects that banks refuse for regulatory reasons or an aversion to what they see as ‘small’ loans (sub €1 million). But the key competitive advantage we have is speed. Many real estate developers simply can’t afford to wait weeks or even months for the banks to approve their loan applications, as the business opportunity may no longer exist.