Over the previous 24 months, investors with WNL have received on average interest paid at between 8 and 8.5% per annum. In the event of a default by a borrower under a mortgage loan, investors are usually paid interest at a rate of 4% above the rate they would otherwise receive from their mortgage investment.
Interest rates currently being paid by borrowers from WNL can be obtained at any time by telephoning Sharon Chapman or Linda Pellaschiar on (03) 9612 7243.
It is anticipated that interest rates for next 12 months will be payable to investors at between 7% and 8.5% per annum (4% higher in the event of a late payment or other mortgage default). However, interest yields on mortgages will vary from time to time depending on market conditions.
Additionally, the amount of interest payable may vary under each mortgage investment having regard to not only market conditions but also aspects of the particular mortgage loan. The factors which may influence the rate set by WNL might include the location and nature of the property being offered to secure the mortgage loan, and the financial history and circumstances of the borrower.
For information on current rates, please do not hesitate to contact our office and we will be more than happy to give you any information which you may require.
Credit Unions, Banking and Finance, Property Law and Mortgage Services
+61 3 9612 7263