Frequently Asked Questions
Investments
Q. How is the interest calculated?
A. Interest is calculated daily.
Q. How often is interest paid?
A. Distributions are made to investors out of the income of the Murdoch Clarke Mortgage Fund on a quarterly basis (for the three month periods ending on the 31st March, 30th June, 30th September and 31st December in each year);
Q. Are all loans secured?
A. Yes, loans are secured by registered first mortgages over real property (i.e. land which is either vacant or built on);
Q. Is it a pooled fund?
A. Yes, funds received from investors are pooled and either lent to borrowers or invested in at call or term deposit accounts with banks, credit unions and building societies;
Q. Does the Murdoch Clarke Mortgage Fund have any exposure to the sharemarket?
A. No, the Murdoch Clarke Mortgage Fund does not invest in the sharemarket.
Q. What is the minimum investment?
A. The minimum investment is $100.
Loans
Q. What is the maximum you will lend on a property?
A. Loans are secured by first mortgage up to 66.6% of value of residential, rural residential and commercial property, up to 60% of value of rural property, and up to 50% of value of hotels and specialised security.
Q. How is interest calculated?
A. Interest is calculated daily and paid quarterly in arrears.
Q. Do you do fixed rate loans?
A. No, all our loans are variable rate.
Q. Do you do construction loans?
A. Yes, loans can be progressively drawn down to assist in the funding of construction or business development projects, providing significant savings in finance charges.
Q. Are there any recurring fees?
A. There are no recurring service, account or early payout fees.