111. If the property is still being constructed and intended to provide, upon completion, an income …

If the property is still being constructed and intended to provide, upon completion, an income to its owner in the form of rents or profits from its sale, institutions should assess the development phase and the phase after the completion of the development, when the project converts into an income-producing property. For the purposes of such loan agreements, institutions and creditors should establish that:

• a. the borrower has a plausible plan related to the project, including estimates of all costs associated with the development;
• b. the borrower has access to builders, architects, engineers and contractors, who will take part in the development;
• c. the borrower has obtained or is able to obtain in the future all necessary permits and certificates for the development, as the project progresses.

1. Forbhreathnú

1.1 Tagairtí

1.2 Ceanglais aitheanta

1.3 Caighdeáin ghaolmhara

2. Ceanglais aitheanta

3. Caighdeáin ghaolmhara

• EBA - Published by the European Banking Authority at https://www.eba.europa.eu/