We provide you with a Mortgage Summary for each proposed investment and ask that you sign an Approval Form. The Mortgage Summary provides the following information;
- Commencement date of the investment.
- Your investment sum.
- Total Loan advance.
- Loan Period.
- Interest rate payable to you.
- Frequency of interest payments.
- Borrower’s name and assessment of credit-worthiness.
- Amount, method and date of valuation of Property, and LVR.
- Mortgage details, including ranking, and details of any other security.
- Insurance details.
- Details of the basis and frequency of any interest rate review.
You will also receive:
- Periodic interest statements, matching the term of your investments (typically monthly or quarterly)