Loan #976755 Cardiff, CF10 1PU, United Kingdom
*This loan has been changed from 9% interest to 11% interest.*
Ons doel met dit appartement is om het te verhuren als zogenaamde Serviced Accommodation (o.a. via Airbnb). Ofwel: een volledig gemeubileerd appartement met beddengoed, keukengerei en een tv die voor één of meerdere nachten gehuurd kan worden. Gezien de ligging in het centrum van de stad is het appartement hier uitermate geschikt voor. Mocht dit om wat voor reden dan ook niet voldoende maandelijkse cashflow opleveren, dan kunnen wij dit appartement altijd verhuren aan één vaste huurder.
Na oplevering zullen wij dit appartement herfinancieren bij een Engelse financieringsmaatschappij. Op dit moment hebben wij hiervoor contact met twee verschillende financieringsmaatschappijen. De reguliere LTV (Loan To Value) in het Verenigd Koninkrijk zal 75% van de marktwaarde van het appartement bedragen, nadat de renovatie is voltooid. Het appartement zal na onze renovatie met ongeveer £23.000 in marktwaarde stijgen. Het overbruggingskrediet dat we willen gebruiken van Max Crowdfund is €140.000, dat is ongeveer 65% van de recente marktwaarde. Met het opgehaalde geld door de herfinanciering, kunnen we de lening bij Max Crowdfund aflossen.
Our goal with this apartment is to rent it out as a so-called Serviced Accommodation (via Airbnb, among others). In other words: a fully furnished apartment with bedding, kitchen tools and a TV that can be rented for one or more nights.
Given its location in the centre of the city, the apartment is ideal for this purpose.
If for any reason, this does not yield sufficient monthly cash flow, we can always rent this apartment to one permanent tenant.
After completion, we will refinance this apartment at an English financing company. At the moment we are in contact with two different financing companies for this matter. The regular LTV (Loan To Value) in the UK will be 75% of the market value of the apartment after the refurbishment is completed. The apartment will increase by about £23,000 in market value after our refurbishment. The bridging loan we want to use from Max Crowdfund is €140.000, which is about 65% of the recent market value. With the money raised by the refinancing, we can pay off the loan at Max Crowdfund
Investors can invest in real estate backed loans from €100 or a multiple of this.
Because of the regulations in the Netherlands:
- A maximum of €80,000 applies per individual investor in total investments made on Max Crowdfund.
- If you have a joined account this is doubled to €160,000.
- When investing a minimum of €100,000 per loan it will not be added to the total investments made on Max Crowdfund.
- Company accounts as have no limits.
Please note, that Max Crowdfund can optionally set a maximum for a single investment regardless of the above.
You will be notified in case your investment(s) exceed(s) any limit.
On the Max Crowdfund platform you have your personal Max Crowdfund Current Account. You can top your Max Crowdfund Current Account up via various payment providers such as iDeal or by bank transfer. Provided your balance is sufficient, you can start investing in loan applications immediately. The maximum deposit amount allowed differs per payment provider, but is usually a maximum of € 50,000. If you supplement your balance via a bank transfer, please use the reference provided in the description with your payment. Please note processing your bank transfer may take more than a day, which may mean you miss out on the investment opportunity.
No. Investors must be over 18 and must have an approved account, meaning their Know Your Client (KYC) documentation needs to be submitted and approved and have a bank account linked to their account. Country-specific restrictions exist and certain nationalities may be prevented from participation in some investment products. This is to prevent money laundering, tax evasion and other illegal activities, in line with our commitment to regulatory compliance and transparency.
At the moment we only accept EURO for investing in real estate backed loans. We are aiming to accept all currencies, including crypto currencies, like we do for the Max Property Group Share Certificates, but this depends on the regulators.
By Dutch law you are allowed a 24 hour cooling-off period, which means you can either change or cancel your investment during this time without any fees charged. After the cooling-off period you cannot change or cancel your investment. You are still allowed to make a second investment. Multiple investments will be combined in one when a loan is finalised.
Yes, but you will need to have a joined bank account with your partner. If you have a joined bank account, you can request to register a joined account on Max Crowdfund. Once approved, the regulatory limit for investing will be doubled to €160,000.
You can only register a new bank account by making a bank transfer of any amount from that bank account. We only accept bank accounts that are held by you and are in your name.
If you only have one bank account registered, this will automatically be your preferred account. In case you have multiple accounts registered, you can select only one of those to be the preferred account. Funds in your Max Crowdfund Current Account that are not used for a period of more than 60 days will automatically be transferred to your preferred bank account.
When the fundraiser fails to meet their obligations to make periodic payments as defined in the loan agreement, Max Crowdfund will follow up. Periodic updates will be shared to inform investors about the status of the loan. To recover from default, measures like a change of terms can be proposed, but this requires the approval from a majority of all involved investors via online voting. In the worst case scenario the Max Crowdfund Security Agent will execute on the collateral for the loan and distribute the proceeds to the investors.
Loan terms summary
- Interest per annum 11.00%
Fully repaid 140,000.00 raised
- Risk class i
- Expires Closed
- Target amount €140,000.00
- Profit share 0.00%
- Term 6 Months
- Payment frequency 1 months
- Loan purpose Buy-to-rent
- Type Bullet i
- Mortgage rank First Rank
- Total Loan Cover (TLC) 130.0%
- Loan To Value (LTV) 76.9% i
- Location United Kingdom
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