How is the security for each Sub Scheme valued?

RMBL obtains an independent valuation from one of its Panel Valuers (all of RMBL’s Panel Valuers are required to provide RMBL with a copy of their professional indemnity insurance policy, and company profile before they can be appointed) before lending on a Sub Scheme Property. The valuation must not be more than three months old. If the valuation is more than three months old, a new valuation of the Sub Scheme Property is obtained before an advance is made to a Borrower.

An independent valuation is used to calculate the loan to value ratio (LVR) and RMBL will lend to a maximum LVR of 66.66% of the Sub Scheme Property.

Where a loan is for construction or development purposes, RMBL can at its discretion accept a Quantity Surveyor’s or Engineer's report instead of a valuation report during the term of the construction or development. All of RMBL’s Quantity Surveyors and Engineers are also required to provide RMBL with details of their professional indemnity insurance and company profile. 

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