Exclusive Apartment Sao Paolo ( Brazil) Opened at:9 April, 2022 - By: WB1004

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Executive Summary

Exclusive Apartment Morumbi: apartment with 73 m2, 1 suite, minimalist style, 2 bathrooms, 1 parking.

The apartment is located at Rua Doutor Luiz Migliano. Vila Andrade belongs to the larger area of Morumbi and is part of the district of Campo Limpo.
The Apartment is fully decorated and very refined. It has a minimalist style with designed furniture. It has a bedroom but with the possibility of adding a second bedroom. The kitchen is designed on a very high level with a waterfall countertop in white quartz and a pot-filler on top of the cooktop. It has lamps imported from Thailand and the United States; The lights are controlled by the cell phone and can recognize when you arrive or leave the house for the lights to turn on or off automatically. The kitchen faucet is based on touchscreen and turns on with the touch of your hand. Elegance in this apartment is not lacking! And it will be sold completely furnished.

Quick Overview
20.00% filled, 0 investors $38,198 left
  • Expires 0 days
  • Target $47,750
  • Funds Raised $9,552
  • Collateral value $217,065
  • LTV 59%
  • Projected LTV 45%
  • Loan Period 36 months
  • Schedule Type French
  • Mortgage Rank First rank
  • Loan Type Mortgage 3 years
  • Loan Type Sub-Category Renovation
  • Location Brazil
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Wayni's loans are secured with real estate collateral and a mortgage that is established on the collateral property. Once the loan is fully invested, the borrower has to go to the notary office and enter into an agreement with the Security Agent to establish the mortgage. The mortgage will then be registered at the Land Register (with the Security Agent as mortgagee on behalf of the investors). The Security Agent is a separate limited liability company whose primary purpose is to hold securities for the benefit of investors making investments via Wayni.

An unsecured loan is a loan which does not have any collateral in place, such as land or apartment, and is solely based on a borrower’s credit history and potential ability to repay. Secured loans have assets as collateral so that if a borrower cannot repay the loan, Wayni's security agent will start the asset sales process. Hereby, the risk of losing the money lent to the borrower is minimized.

After the credit crunch and the resultant recession, the risk appetite of banks was reduced significantly, which means that banks have tightened their lending criteria. Banks have strict criteria, which is not borrower friendly, follows a very rigid funding structure, and thus many loan applications are rejected by banks. Wayni is a small and flexible organization which is willing to help companies that are denied financing by banks despite having a strong business plan and solid collateral.