What is a contributory mortgage investment?
Investors are offered the opportunity to invest in a specific loan secured by a registered mortgage over legal interests in real property in Australia. Each approved loan in the Contributory Fund constitutes a Sub-Scheme, which is distinct from any other Sub-Scheme. Your entitlement to income or capital is based entirely on your investment in a chosen Sub-Scheme and therefore you have no rights to the income or capital of other Sub-Schemes in the Contributory Fund. A Sub-Scheme or mortgage loan may have more than one investor. No new investor will be placed in a Sub-Scheme that has a mortgage loan which is in default. Applicants should note that there is no right to withdraw from a Sub-Scheme after your Approval Form has been received and your mortgage investment moneys have been allocated to the Sub-Scheme by VMIL.
