Our loans...
We work with finance brokers and borrowers across Tasmania to support local projects that grow our State and benefit the community.
Types of loans at MCMF
We offer a range of loans to our customers – find out more by clicking on the below.
Our lending process
We’ve outlined the process for our
borrowers in plain English so you understand what’s involved, and there are no
surprises.
Our team is on standby to support you throughout the loan process – from your initial application to your final payment.
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1
Our loans are interest only: We generally require interest payments paid quarterly in arrears. We require principal repayments to be repaid on demand by MCMF but MCMF will not demand a principal repayment without reasonable justification.
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2
Our loans are secured by first mortgages over real property; that is, land that is either vacant or built on (as opposed to personal or movable property)
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3
As part of our approval process, we obtain valuations by a registered valuer or use adjusted government valuations to assess the value of the real property offered as security
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4
As our loans use property as security, the amount of the loan cannot generally exceed a specified percentage of the property’s value (the loan-to-valuation ratio), which is fixed depending on the type of the property – such as residential, commercial, rural, or a hotel or specialised security
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5
Before approving a loan, our Management Committee assesses each applicant borrower’s financial position and their capacity to pay interest
Our current interest rates
Loans are variable rate interest only facilities paid quarterly in arrears. Borrowers also have the option of making principal repayments if desired.
The current standard variable interest rate on mortgage loans from the Murdoch Clarke Mortgage Fund is from 7.49% for agribusiness loans, 8.19% per annum for commercial loans, 9.94% for development loans, and 8.49% for SMSF loans. Click here to view the comparison rates.
Each change in the variable interest rate on mortgage loans will be notified in writing to borrowers and the current variable interest rate on mortgage loans from time to time will be published here.
Contact us
Feel free to contact us with any questions about interest rates, our loans, or our application process.