Frequently Asked Questions
The frequently asked questions can assist you to obtain more information about investing with RMBL.
- What is a Contributory Mortgage Investment?
- How long has RMBL investments been in operation?
- How do I invest?
- Minimum investment amount?
- Term of investment?
- Maximum investment amount?
- Option to Renew investment in existing Sub Scheme
- Are there any fees or charges?
- How is the interest paid?
- Who can apply to invest?
- What criteria is used to assess loan applications?
- How is the security for each Sub Scheme valued?
- Are there compensation arrangements in place?
- What are the benefits of investing in the Scheme?
- Information you can expect to receive from RMBL?
Information for Members
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 report instead of a valuation report during the term of the construction or development. All of RMBL’s Quantity Surveyors are also required to provide RMBL with details of their professional indemnity insurance and company profile.