Norge House - Risk and return review
Norge House – Pros & Cons
About Norge House
What it is
Norge House (norgehouse.capital) is a small website where people lend money to one company: Norgehouse Group OÜ, registered in Estonia, which builds factory-made timber-frame houses in Latvia and sells them. The company is both the operator and the only borrower. Its first lender-funded project, two houses at Silāju iela 3 in Baloži, was nearly finished in September 2026. It holds no financial licence.
How it works
You register, pass identity checks and lend to Norgehouse Group OÜ or a company it fully owns. Each project is split into funding stages, and the company says money is released as construction progresses. You get a fixed return agreed in advance, paid at the end of the project; if houses sell early, the company says your money can come back early. Lenders who put in €5,000 or more are offered the chance to have a house built for themselves at production cost.
Returns
No interest rate is published on the public pages: the platform promises only a 'pre-agreed fixed return' (read 1 November 2026). Offers are shown after registration. No loan has yet been reported as repaid, so there is no record of returns.
Losses and defaults
No default, delay or loss figures are published. The first project is behind plan: on 23 September 2026 the company wrote that the handover of the Silāju iela houses 'has taken a little longer than originally planned'. One of the two houses was sold and the second buyer was still arranging a bank loan. That update gave the latest funding stage as €46,651, 10% of the project's funding.
What secures your money
The platform says lenders' money is 'secured by real houses and land' with 'principal protection from the start'. Its public terms and its how-it-works sheet, however, describe no mortgage, pledge or other registered security in favour of lenders, no valuation and no loan-to-value. The terms instead warn that loans may involve loss of capital, illiquidity and regulatory risks. In practice you lend to one company, Norgehouse Group OÜ, or a company it fully owns, and repayment depends on it building and selling its houses. If the houses do not sell, or sell for less, nothing published shows how lenders would be repaid ahead of other creditors. There is no buyback, reserve fund or guarantee from anyone else (as of 1 November 2026).
Who runs it and its licence
The website is run by Norgehouse Group OÜ (registration number 17494650), registered in Estonia, with an address in Vītoli, Limbaži Parish, Latvia; its terms follow Estonian law. It holds no licence from a financial regulator and is not in the European register of licensed crowdfunding providers (checked 28 October 2026). Because it borrows for its own projects, there is no independent platform checking the borrower: the company that presents the offers is the company that takes the money.
Fees
No fee list is published. The public pages mention no charges for lenders, but the terms of each loan are shown only after registration.
Getting your money out
Your money is returned with the fixed return at the end of the project, or earlier if houses sell sooner. No secondary market is described, and the terms warn of illiquidity. Your account cannot be transferred without the company's written consent. With the first project already late, repayment may take longer than planned.
Our view
Return: not rated, because no interest rate is published on the public pages. Risk: Very High (higher means more risk). The company is unlicensed, it is itself the only borrower, it claims principal protection without describing any registered security, and its first project is late (September 2026). Risk-return: not rated, because there is no return figure to weigh against the risk.
Regulation
License / Regulation: No licence. Norgehouse Group OÜ (Estonia, registration number 17494650) holds no licence from a financial regulator and is not in the European register of licensed crowdfunding service providers (checked 28 October 2026). It borrows from the public for its own house-building projects. The EU crowdfunding rules and their investor protections do not apply, and no compensation scheme covers the loans.
Functionality
For Investors
Useful Information
No. Norgehouse Group OÜ holds no licence from a financial regulator and is not in the European register of licensed crowdfunding providers (checked 28 October 2026). You lend directly to the company that runs the site.
Norgehouse Group OÜ or a company it fully owns. It uses the money to build its own modular houses in Latvia and repays lenders from house sales. There is no other borrower.
The company itself. The public pages do not name a bank or payment provider, or say whether lenders' money is kept apart from the company's own.
No minimum is published on the public pages. Lenders who put in €5,000 or more are offered a house built at production cost.
The platform promises a 'pre-agreed fixed return' but publishes no rate (1 November 2026). No loan has been reported repaid and no losses are published. The first project's handover was late in September 2026.
The platform says loans are 'secured by real houses and land'. Its terms describe no mortgage or pledge for lenders and warn that loans may involve loss of capital. There is no buyback or outside guarantee.
Only if houses sell sooner than planned, when the company says principal can be returned early. No secondary market is described, and accounts cannot be transferred without the company's consent.
No fee list is published. Check the terms of each loan after registration.
You would be a creditor of a small company that is both the platform and the borrower. Nothing published shows registered security for lenders, and no supervisor or compensation scheme covers the loans.
