The EIKA financial security program, created at the height of the pandemic, is currently becoming relevant again in the real estate market, where postponing housing purchase decisions is prevalent. The program’s new offer “Changed Decision Guarantee”, according to which a client who has concluded a preliminary housing purchase contract in October-November, but has changed his decision in the spring, will be able to terminate it without any consequences and withdraw the entire deposit.
EIKA’s financial security program was created in response to the uncertainty caused by the COVID-19 pandemic. After a couple of years, the housing market is once again facing challenges due to the war in Ukraine: disrupted supply chains, increased prices for construction materials and energy, insufficient housing supply and skyrocketing prices, and an unpredictable geopolitical situation. Therefore, market participants are looking for new measures that would encourage housing customers not to postpone decisions in the hope that prices will fall or the situation will change. “We see and understand the reasons for the market slowdown. We believe that the guarantee we are announcing will provide security and flexibility to our customers, regardless of their doubts. We believe that it is important for people to choose the housing that best meets their needs now, and make the final decision on the purchase in the spring, when both the personal and macroeconomic situation will be clearer,” says Martynas Žibūda, Deputy Director General of EIKA.
According to M. Žibūda, assessing the situation, we offer our potential clients a new financial security program product – “Changed Decision Guarantee”, which best meets the above-mentioned circumstances. Under the “Changed Decision Guarantee”, clients who have concluded a preliminary housing purchase agreement in October-November, if the decision changes, regardless of any options, can terminate the agreement without penalties and recover the full deposit by April 1, 2023. The guarantee applies to the following projects: “Bajorų alėjos”, “Metų laikai” stage I and “Mėlyni vilkai” stage II. The deposit for the preliminary purchase and sale agreement is 15 percent. of the transaction amount, but the payment of the deposit can be divided into parts by individual agreement. From April 1, 2023, if the decision does not change, the preliminary purchase and sale agreement can be terminated only under the terms of the agreement.
Offer valid for new agreements. More information here.