Questions and answers

The loan amount is up to 75% of the market value of the pledged property. For most programmes we assess the amount individually — it depends on the value of the pledged property and your ability to repay. Some programmes have a limit: the microloan for consolidating obligations — up to €3,000, the Super Payment Holiday programme — up to €12,000, starting a business — up to €100,000.

The average decision time per agreement is one business day.

The loan interest rate is from 9% per year. Representative example: a loan of €10,000 over 120 months at a fixed interest rate of 9% per year, arrangement fee €215, monthly payment €126.68, APR 9.94%, total amount payable €15,416.60. The rate for the microloan for consolidating obligations is 4% per year. The credit specialist will state the exact terms before the agreement is signed.

No. All of Grand Credit's activities are strictly regulated by the laws in force in the Republic of Latvia, so the borrower or the owner of the pledged property retains ownership. All original documents and certificates remain with the borrower.

After the loan agreement is signed, a mortgage is registered in the Land Register, together with a prohibition on selling, donating, dividing or encumbering the property with property rights without Grand Credit's consent.

Yes, with Grand Credit's written consent. The outstanding part of the loan and the interest up to the date of repayment will have to be paid off from the sale proceeds.

Yes, but only with Grand Credit's written consent.

Real estate: apartments, houses, land and commercial property. The loan amount is up to 75% of the property's market value. In some business programmes we also accept bonds as collateral.

Yes. Insurance is a mandatory condition of the loan agreement: the policy secures the loan in case the property is damaged or destroyed.

No. This is not required of you while the loan is being repaid.

If the ownership of the property is in order, you should already have all the necessary documents: passport or ID card, Land Register certificate, boundary plan, cadastral survey file, statements from the State Revenue Service (VID) and the State Social Insurance Agency (VSAA), and a bank statement. When you come to us, we will review them and tell you whether anything else is needed. You do not need to order anything or spend money beforehand.

The loan can be repaid early in full or in part. A fee applies to early repayment — 1% or 0.5% of the amount repaid early, according to the loan agreement (see the price list). With a partial repayment, you can choose a smaller monthly payment or a shorter term for the remaining balance.

Of course. As soon as the final payment is made, you will receive the documents to delete the registered mortgage and related entries from the Land Register.

If you realise that temporary financial difficulties are coming up, contact your credit specialist — Grand Credit can grant a payment holiday of up to six months. Even if the situation does not improve, we are ready to work with you and offer a solution that helps you repay.