ECMT
Finance
Features
At East Coast Mortgage Trust we are specialist commercial lenders focussed on building and maintaining strong long term lending relationships with our clients. We seek to utilise the high level...
Loan Criteria
Loans to Borrowers will only be approved subject to prudent credit investigations and verification of the loan application and supporting documentation. Loan applications are initially assessed by senior management before...
Development Loans
We recognise that development or construction lending involves an inherently higher level of return and risk. For that reason we use additional assessment criteria to mitigate risk and ensure the...
Other Authorised Investments
Cash is generally invested at call or in interest bearing term deposits at an authorised deposit taking institution. However, under the Constitution Other Authorised Investments may extend to: real property;...
Valuation Practices
All approved mortgage investments are subject to valuations, except where the security property is purchased at public auction in which case we may not require a valuation. Valuations must be...
In August last year we wrote to you advising of a series of actions we were taking in relation to eight borrowers in arrears greater than 60 days.
Our aim has been to resolve these issues as quickly as possible. Despite our best efforts that has not been possible. In some cases the situation has deteriorated. We have had one borrower bring interest up to date but a further 3 borrowers have fallen into arrears over this time.
