Fully Secured Registered Mortgages
The foundation of the Company’s strategy to minimise risk is that we only lend when the primary security on offer is a first registered mortgage over real estate in Australia with an overall lending exposure at a determined minimum margin below the market realisable value of the security. Second or subsequent mortgages will never be taken as the primary security but may be taken as collateral security to the loan.
As a holder of a first registered mortgage, the Company is a secured creditor entitled to be paid first from the sale proceeds. Other creditors, including second and subsequent mortgagees, and the property owner, can only be paid after Turner Securities Ltd has been paid in full.