Frequently asked questions
Here you can find answers to the most frequent questions asked by our borrowers and investors.
I am a borrower
What it is like to get a loan against the pledge of real estate with Creddy?
Typically the loan sum is about 50-60% of the valuation price of a real estate item. There is a limitation on the amount — 50.000.000 rubles, but if the valuation price allows the amount go higher, we could consider the increase of the limit. Loan sum depends on the state of the item and on its liquidity. It is important to keep in mind that every decision with each client is custom-made.
The lending decision is made over 15 minutes. We would need one more day to access the real estate item, to carry out all the checks necessary and to prepare all the documents. It will take 5 more days to formally establish the governmental mortgage, and then you’ll receive the money on your bank account.
Interest rate is set individually for every borrower and it depends on the loan sum and the pledged item. Typically interest rate varies between 24% and 30% per annum. Still, it can get lower or higher than those numbers.
To apply for a loan you would need the following:
- Passport of RF citizen
- Documents of title to the real estate item: certificate of title to immovable property and a supporting document (purchase/sale agreement, gift deed, etc.)
- United housing document
- Officially authenticated confirmation from your spouse or an officially authenticated notification of absence of a spouse that could be entitled to the property acquired during the marriage A psychoneurologic dispensary and neurologic dispensary certificates
Kindly note that there’s no need to provide statement of employment or any confirmation of earnings.
We offer you to sign a loan agreement and a pledge agreement in accordance with the Federal law «On mortgage (pledge of real property)» N 102-ФЗ dated to 16.07.1998. There is no need to remove the registration of place of residence as the item of real property remains in your possession. After you are discharged from the agreement, the item will be released from charge in the course of 3 week days..
No, we do not act as mediators or brokers, and we do not charge any fees. You repay the same amount as you’ve borrowed plus interest rate of actual utilization time according to the agreement. No extra payments charged.
Repaying loan is as easy as taking it. You make a transfer to our operating account in any bank. Do not forget to indicate your agreement reference number as to speed up the payment identification process.
I am an investor
What is it like to make cost-effective investments with Creddy?
To become a Creddy investor you just need to fill the application form on our website or apply by calling us. Our manager will get in touch with you to set an appointment for you to come to our office and sign the necessary papers. The only document required here is your RF passport. There’s no need to come to our office afterwards: the interest rates are paid to your bank account, investment refund can be made by filling the application form or by calling us. As soon as Creddy app is launched you’ll be able to manage your investments online 24/7.
We have created Creddy as an alternative to costly moneylenders and slow banks full of bureaucracy.
We attract money from investors at the rates of up to 16% p.a. and allocate it as loans against the pledge of real estate at the rate of 24-30% p.a.
We provide loans exclusively against the pledge of liquid real estate. Typically the loan sum is about 50-60% of the valuation price of a real estate item. That means that every coin we loan is supported by the pledge of a liquid real estate item which market cost is at least twice as high. If you are a significant investor (you have invested more than 10 million roubles), it is possible to get mortgage notes that are in possession of Creddy for the total of the amount of your investments.
Apart from that Creddy takes on all the risks of loan delinquency on the borrowers’ side. Investors get earned interest right on schedule and under no circumstances lose money.
Minimum amount to invest with Creddy is 500 000 rubles.
By investing with Creddy you will earn up to 16% of interest p.a. paid monthly to your bank account.
We provide loans at the rate of 24-30% p.a. Big pool of provided mortgage loans and an optimized business model allow us to offer high profitability to our investors.
Yes, you can get the invested money back fully and ahead of schedule any time you want. In this case the interest rate will be restated as per basic tariff «Demand deposit».