EstateGuru announced that that from June 10th 2020 they will implement amendments to their User Terms. Learn how they impact you on this post.
Legal Wording, Payment Solutions & Regulatory Compliance
The amendments include multiple material changes and improvements related to the wording of the terms. EstateGuru is amending their User Terms to integrate Lemon Way payment solution into their portal and introduce new regulations which derive from the regulatory obligations related to the expansion to new markets. EstateGuru have also taken into account the evolving regulatory and economic environment (e.g. they will update clauses regulating EstateGuru obligations related to the anti-money laundering and risk issues).
More Power to Negotiate with Borrowers
Besides that, EstateGuru wants to amend their User Terms to provide more clarity and flexibility on the powers to negotiate with the borrowers on behalf of the investors. The changes will provide EstateGuru with more alternatives to reach more efficient solutions and/or better returns for the investors and possibilities to act in the best interests of the investors taking into account the peculiarities of each loan project.
Read the new EstateGuru User Terms
Please click the link below to download the extracts of the sections of EstateGuru updated User Terms which are going to materially change.
EstateGuru New Withdrawn Fee
As of the same day, EstateGuru will implement a service fee of €1 to cover substantial investments, improvements made into the platform and increased operational costs as announced in the beginning of 2020. The fee is calculated and charged every time money is withdrawn from the virtual account (EstateGuru do not charges it for performing the payments).