Mortgage secured loans
At the portal you have the possibility to apply for a loan by securing it with mortgage.
How does it work?
First you need to send us a request using your mailbox. The information should include the desired loan amount, period and interest rate. We do not determine the interest rate ourselves, but the administrator can evaluate this. We also require information on the property including the address, cadastral register number, valuation (if missing, the approximate value), applied mortgages. You must also attach your last six months' bank statement. The portal administrator will thereafter contact you and will ask for additional details if necessary.
The portal offers two options:
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First, mortgage is set to back any loans from the portal. Then the credit limit is determined and any number of loans can be applied for within the limit.
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A pending loan application is made. When the required amount has been reached, a notarized contract will be signed within a day or two. After that the portal administrator will activate the loan and allow the loan to be transferred. With this option all the details of the transaction must be predetermined and agreed upon beforehand.
Car secured loans
You also have the option to apply for a loan by backing it with your car.
How does it work?
First you need to send us a request using your mailbox. The information should include details of the car. We will assess the value of your car and determine the maximum loan amount after receiving the necessary details from you. You must also send us your last six months' bank statement.
Next a pending loan application will be made. When the required amount has been reached, a letter of authorization will be issued to you, using which you will need to register the car to the portal administrator at The Estonian Road Administration. We will transfer the loan amount after the successful registration and you can continue using the car.
After the loan amount has been repaid the car will be registered back to you.