Quarterly update – 1st October 2019

 

It’s been a quarter to remember, my first here at Midlands. While the Official Cash Rate declined dramatically to 1.00% on August 7th, I am very pleased to announce that the distribution rate at Midlands will remain at 5.20%* for this last quarter. This is a fantastic result for our investors.

We can maintain our rate, while also equally important to maintain the quality of our loans, through a number of closely managed factors. Also, importantly, because of the tightening on banking lending criteria, we have a large demand for loans in our sector. With carefully managed in areas such as lending ratios and duration of loans, we ensure a regular maturity allowing for distributions. As we hold cash in scheme as well, lower interest rates challenge us as well.

Tobias Taylor

CEO

 

 

 

 

 

 

 

Get your free info pack

To learn more about investing with Midlands Mortgage Trust enter your details below.

This info pack contains everything you need to know about the Fund to help you make an informed decision.

ANNOUNCEMENT FROM THE CEO

In light of the COVID-19 Levels imposed across New Zealand all Midlands staff, where possible, are now working from home.

Please note that our Hastings office will be closed to the public from this date forward.

We continue to operate essential functions of the fund, which includes settling of mortgage loans and distributions of income to investors. However, some other functions will naturally be delayed. We appreciate your understanding at this time. Please call 0800 870 326 should you have any queries.

Be safe, and please look after yourself and each other.

Tobias Taylor, CEO