Equfund (IPS) Limited is an Industrial and Provident Society registered in the Mutual Societies Section of the Financial Services Authority on 8th May 2000; under registration number 29088R.

Our directors have over 25 years experience in the field of residential mortgages and property investment. After having secured a good living during the 1980’s, 1990’s and early 2000, the directors were driven by a desire to assist those people who fall outside of the prime mortgage market; yet still are in need of affordable, sustainable housing.

An Industrial and Provident Society is an organisation conducting an industry, business or trade, either as a co-operative or for the benefit of the community, and is registered under the Industrial and Provident Societies Act 1965.

Co-operative societies are run for the mutual benefit of their members, with any account surplus usually being ploughed back into the organisation to provide better services and facilities. Societies run for the benefit of the community provide services for people other than their members.

Equfund operates as a benefit of the community society and, as such, there are certain requirements it has to meet and things it cannot do; these are detailed in the society’s rules. No amendments to a society’s rules are permitted which are not in accordance with the democratic and community benefit principles established on its constitution.

The society’s rules govern every aspect of its operation; a major one of these restricts the level of interest payable on the society’s borrowings. The maximum annual rate of interest permitted can only be the amount needed to secure an investment and no more. This type of restrictive investment is one that will only appeal to investors seeking an element of community benefit or altruistic reward rather than just financial returns. Investment into the society is usually secured via the issue of Loanstock.