Our process...
We believe in simple, streamlined processes. That’s why our process of investing and lending is in plain English – so you understand what’s involved and there are no surprises.
And don’t forget – our friendly, knowledgeable team is always happy to help you with your application and answer your questions.
MCMF operates on the following basis:
Our investment process
- We receive funds from our investors, and we pool these funds to either:
- lend to borrowers; or
- Invest in at-call or term deposit accounts with banks, credit unions, building societies and in other pooled mortgage schemes regulated by the corporations act.
- We receive income from:
- interest paid by mortgage loan borrowers; and
- interest earned on investments with banks.
[We do not borrow or invest in the share market]
- We pay distributions to our investors every quarter. Payments are based on MCMF’s income for the three-month periods ending on March 31st, June 30th, September 30th, and December 31st of each year.interest paid by mortgage loan borrowers; and
- Our investors do not invest in specific mortgage loans, instead, they invest in the overall assets of MCMF as a whole.
- Investors who request a withdrawal will generally receive their funds within seven days; however, there are some instances where this may not be the case – read more on pages 7 and 30 of our Product Disclosure Statement
Our lending process
- Our loans are interest-only loans: We generally require interest payments paid quarterly in arrears.
- We generally require principal payments to be repaid on demand by MCMF
- 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)
- 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
- 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 urban residential, rural residential, commercial, farming, or a hotel
- Before approving a loan, our team and Management Committee assesses each applicant borrower’s financial position and their capacity to pay interest
Once you’re an MCMF investor
After your application is approved, we’ll set up your account. We’ll contact you let you know your new account details and how you can deposit your initial investment.
Remember, you can open your account with as little as $100. We accept direct deposits into the fund’s bank account or cheques made out to Murdoch Clarke Mortgage Fund.
Your initial investment amount will become the starting balance of your account.
As an investor, you’ll appreciate:
- No application fees
- No additional fees for additional investments or withdrawals
- Interest calculated on a daily basis
- Distributions paid each quarter, based on the Fund’s income for the three-month periods ending on March 31st, June 30th, September 30th, and December 31st of each year
How to invest
At MCMF, we don’t believe in complicated forms or extended waiting periods, so we’ve streamlined our investment process to be fast and simple! Of course, we’re always happy to help you though, at any stage of the process, if you have questions or need some help.
Applying to be an MCMF investor
There are just three simple steps to become an investor with MCMF:
- Read the Product Disclosure Statement (PDS) and Target Market Determination for Investors (TMD)
- Complete your investment application form
- Submit your application by:
- Posting your form to GPO Box 408, Hobart 7001 or PO Box 1488, Launceston 7250
- Delivering your form in person to one of our offices: 10 Victoria Street, Hobart TAS 7000 or 85b George Street, Launceston TAS 7250
- You will need to provide identification to complete a 100-point identification check
- We require the original signed form in order to process your application; therefore we cannot accept application forms via email
Click below for more information on submitting your application.
Additional investments
Once your application has been accepted, you can easily make additional investments without having to fill out another application form issued with the current Product Disclosure Statement (PDS). However, please refer to the current PDS, any Supplementary PDS, and any additional disclosure information provided when making additional investments.
To add funds to your investment, you have a range of options:
- Send a letter with your account number and cheque (payable to Murdoch Clarke Mortgage Fund)
- Advise MCMF via email or phone that you will be making an electronic funds transfer, and directly deposit the funds (clearly stating your MCMF account number in the payment description)
Set up a regular direct debit from your bank account (clearly stating your MCMF account number in the payment description)
Your additional investments can be as low as $100, and there is no upper limit.
Contact us
Let us know if you have any questions about our processes at MCMF – we’re always happy to help!
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