Published: Mon, Jun 1st, 2009

We would like to remind our clients and the other recipients of the Turner Hopkins newsletter our firm continues to operate Turner Hopkins Solicitors Nominee Company Limited (THSNCL).

THSNCL is a contributory mortgage company which receives funds from investors (contributors) which are then lent to third parties which have approached our firm seeking mortgage funding.

Our contributors receive a return of 8.5% per annum on the funds which they have invested through THSNCL. This interest is payable either monthly or quarterly.

The loans are for a period of between one and two years and as security a registered first mortgage is taken over the borrower's property. The loans represent no more than 50% of an acceptable registered valuer's recommendation of the value of the land, or in the case of improved land (i.e. land that has either a house or building erected on it) 66.6% of the valuer's recommendation.

The advantages of investing in a contributory mortgage company include:
• The investment is secured over a specific property as opposed to being part of a global fund;
• Investors can contribute as little as $5,000 to THSNCL and thus offer the contributor the opportunity to spread their investment risk;
• A contributor must consent every time their funds are invested and is provided with a copy of the relevant valuation being relied on before their consent is sought;
• Our policy is to normally keep loans under $500,000.00;
• Loans are normally secured against property in the Auckland region

If you have an interest in discussing further the merits of investing funds in THSNCL please do not hesitate to contact our Nominee Company Administration Manager Helen White on ph: (09) 486-2169 or helen.white@turnerhopkins.co.nz

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