INVESTORS

Investors

Lanark Mortgage Fund’s main goal is to make use of the pooled contributions of our participants to invest in mortgages. The Fund works best for people who want to invest in mortgages, but don’t have the time, experience or capital to make the most of it.

Our Management Committee

The Fund is managed by a six-member management committee and includes:

  • The General Manager
  • A retired lawyer
  • Four members from the business community, each with a track record of success

The Management Committee reviews all applications and decides whether the Fund will approve a mortgage application. They also set the terms of the agreement.

Our General Manager

When working with the Lanark Mortgage Fund, you’ll be working with our General Manager, Steve McGlade. 

He inspects and appraises all mortgage applications, and he’s the go-to guy between the applicator, management committee and lawyers. Essentially, he works with you from the application process to the document completion.

He also does the following behind-the-scenes work:

  • Providing instructions to the Fund’s lawyer for mortgage preparation
  • Collection of required monthly payments
  • Completion of follow-up of property taxes and insurance
  • Mortgage renewals
  • Mortgage discharges upon maturity

Communicating to our Investors

Our fiscal year runs from January 1 to December 31, and we send out financial statements in February. The statements provide an overview of the Fund as a whole as well as a personalized statement based on individual contributions to the Fund.

The mortgages we provide are primarily firsts on residential properties, cottages, residential building lots and commercial properties with a residential component. We have a very low default rate.

Solid Returns

The Fund has been a stable investment vehicle which has historically provided investors with compound rates of return of:
• 1 year – 8.0%
• 3 years – 6.2%
• 5 years – 6.5%
• 10 years – 7.1%

Funds on hand, not required for mortgage financing, are held in interest bearing securities or equity investments under the trusteeship of Scotia Trust.