Mortgage portfolio overview (October of 2021)

In October, our traders financed a complete of 104 loans, valued at €16,9M. Germany, which is our greatest market, contributed €4,1M, whereas the most important quantity was in Estonia (€6,1M).

Together with the gross sales volumes, the reimbursement of loans additionally elevated when put next with September, to a complete of €8,8M. Buyers’ return on repaid loans has remained excessive at 10,4% for October. 

The default charge remains to be secure at round 8%. A default enhance occurred in Finland, the place one venture was put into default (€1,5M). A defaulted venture reimbursement was efficiently concluded in Estonia (€0,2M) as effectively. Moreover, one profitable public sale was accomplished in Estonia firstly of November, and we count on the cost to traders (a declare quantity €1,2M) to be finalized throughout the first week of December, on the newest. The client will finance the acquisition with a financial institution mortgage. A brand new danger administration lawyer has been employed to assist our debt administration in the entire nations wherein we function. She shall be based mostly at our headquarters in Estonia.

A second principal capital loss was registered firstly of November and the entire write-off of the principal was €0,03M. A bridge mortgage of €0,09M in Latvia was declared defaulted in October of 2019. The value reached at public sale was too low, so we tried to assert the lacking quantity from the suretyship giver. This was unsuccessful, as he went out of business. Partial reimbursement was acquired from the associated firm of the borrower, however finally in addition they filed for chapter. No future funds are anticipated. In consequence, our 344 traders (with a median funding of €247) noticed a loss on their funding. Even so, 66,7% of the principal was recovered and the entire return for traders was -23,9%. Which means that the entire write-off share of the EstateGuru portfolio remains to be a really wholesome 0.009%.

We are going to preserve you knowledgeable concerning the credit score portfolio high quality on a month-to-month foundation.

Keep protected,

Andres Luts
Chief Credit score Officer (CCO)

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