FAQs

Millbrook raises money direct from investors and provides loans to property developers and other property-based borrowers through the Millbrook Mortgage Find and the Millbrook Income Fund.

Pooled Option Mortgage Investments FAQ

As the name suggests it is an investment in a pool comprising of a number of mortgages, each with varying term, return and risk. Any loss on realisation of a mortgage in the pool is shared by all Pooled Option investors in proportion to their investment in the Option.

The current interest rate applicable to investments in our Pooled Option sub-scheme can be found on this website and is made known to you when you first invest. That initial rate is fixed for 12 months from the date of investment, after which it will revert to the current rate applicable to the Pooled Option. The rate paid on the Pooled Option is determined by us from time to time and any reduction in return will be advised to all Members invested in the Pooled Option and will not take effect for a period of 90 days following that advice.

Your Pooled Option Mortgage Investment commences earning interest from the date it is received by us.

You can withdraw your investment subject to 90 days written notice to us and the Pooled Option sub-scheme having sufficient liquidity. If there is insufficient liquidity, we will endeavour to manage the sub-scheme’s cash flow to ensure as far as possible that liquidity is sufficient to meet redemption requests. As liquidity becomes available, outstanding redemption requests will be met in the order in which they are received.

If a Loan goes into default, we increase our level of management of the Loan and Mortgage and take steps to have the Borrower rectify the default.  If the default results in a loss or is considered by us as being likely to realise a potential loss on realisation, that loss or potential loss of capital is shared by all investors in the Pooled Option sub-scheme. We also report quarterly on this website in respect of the level of loans in default by more than 30 days. For more information regarding the impact of a loss on your investment please refer to the PDS (Section 4: How do I invest in the Fund – To Invest in a Pooled Option Mortgage Investment)

This is the most common question we get asked and while our formal disclosure documents and other information on this page set out the investment process in detail, the following is a simplified explanation.

  • You complete an application to become a Fund member and discuss your investment preferences with one of our staff. There is no cost to join or invest.
  • You remit your money to us. This earns interest at the initial return agreed to with us from the date your funds are received by us.
  • We confirm your investment by way of a Mortgage Certificate
  • Your initial rate of return is fixed for the first 12 months following investment, after which it reverts to the current Pooled Option return. Each month we will pay you the agreed rate of interest. The rate applicable to the Pooled Option is determined by us from time to time and any reduction in return will be advised to you and not take effect for a period of 90 days following that advice. The current rate paid by the Pooled Option can be found on this website or on your monthly interest statement.
  • You can withdraw your investment subject to 90 days written notice to us and the Pooled Option sub-scheme having sufficient liquidity. If there is insufficient liquidity, we will endeavour to manage the sub-scheme’s cash flow to ensure as far as possible that liquidity is sufficient to meet redemption requests. As liquidity becomes available, outstanding redemption requests will be met in the order in which they are received.
  • You receive an annual statement of interest received for tax purposes.
  • You can request a statement of your account from us at any time.

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