SCP: An acronym for Southern Cross Partners Limited
Investor Portal: SCP online platform where you can operate your investments from. Functions include viewing your investment portfolio, accessing statements, purchasing new investments.
On-Call Account: Our interest-earning Trust account that ‘holds’ funds for you as you choose to Invest, reinvest or have funds repaid to you. Each investment entity such as an individual, joint, trust or company, will have their own On-Call Account symbolised by 'A' followed by a number.
Owned: Identifies investments owned by you in your own individual entity.
Joint: Identifies investments owned by a joint entity if you are linked with one.
Associated: Identifies investments owned by a trust or company entity, that invests with SCP, if you are associated with one.
Anticipated Maturity Date: The date the borrower has agreed they need the funds until. This date however is indicative only as a borrower may repay early to extend the term. NOTE: Funds are not automatically repaid on this date.
Status: Indicates if there are any actions or available actions for this loan:
Opportunities page Details: Click this button to see details of the investment you placed plus view the investment opportunity details.
Pending: Identifies an investment order that requires additional funds to fully complete the order and begin the investment.
Repayment Option: Displays how funds from loans repaying will be processed.
LVR: Loan to Value Ratio – the total loan amount calculated as a percentage of the value of the property.
Registered First Mortgage: Our investments are secured with a first mortgage, registered on the title of the property taken as security for the loan. All mortgages are held in trust for investors via our trustee company Loan Investment Trustees Limited and puts our financial interest in the property ahead of any other party. With the exception of the IRD, if applicable (see GST definition for further information).
GST exclusive: The GST portion has been deducted from the value. Generally used for loans that have a business aspect to them such as developments or spec builds. This ensures we have accounted for paying the GST at the end of the project if the borrowers have not and the IRD assesses it is payable.
Valuation Method: a description of the method we have used to verify the value of the property/properties used as security.
Compounding: Some investments are labelled ‘Compounding’ which denotes the investors interest is not paid out monthly, but instead calculated daily, on the balance invested, and then paid out in its entirety when the borrower repays their loan in full.
Anticipated Maturity Date: The date the borrower has agreed they need the funds until. This date however is indicative only as a borrower may repay early to extend the term. NOTE: Funds are not automatically repaid on this date.
Credit Score: This is an internal scoring system that our Credit Team utilises in order to indicate the level of risk involved with each loan application we receive and is not an indication of the borrowers Credit Rating. The score will be in the range of 1 (lowest risk) through to 5 (highest risk). The Credit Score is calculated using a variety of different categories including:
