Loans from the Victor Donaldson Fund (VDF) are intended to enable pension-age Freemasons to remain in their home by providing funding towards essential repairs and improvements.
The Victor Donaldson Fund originated in 1973 from a legacy donation from Lieutenant Colonel Victor C Donaldson, who was a fellow of the Royal Institute of Chartered Surveyors. Lieutenant Colonel Donaldson’s vision was to offer loans to annuitants of the Royal Masonic Benevolent Institution Care Company (RMBICC) to allow them to carry out essential repairs to their property in order to keep it in a reasonable structural and decorative state.
The intention of the fund was to assist annuitants that were unable to afford the repairs, thereby enabling them to remain in their own homes and improve their quality of life.
The fund was subsequently increased by further contributions from the Freemasons’ Grand Charity and RMBICC in 1990 and 1995 respectively, to allow a wider group of applicants to benefit.
In 2017 the administration of the VDF was taken on by the Masonic Charitable Foundation, from the RMBICC. As an extension of the MCF’s charitable aims, loans are offered to successful applicants on an interest free basis.
Examples of previous assistance include, but are not limited to:
Repair/replacement of roofs
Replacement of central heating system
Open to Freemasons and Masonic widows/bereaved partners over 65 years of age.
Applications are subject to an assessment of the applicant’s income, capital and property value.
A legal charge will be secured against the applicant’s property and any legal costs incurred will be added to the value of the loan.
The property must belong to the applicant.
The property must be freehold, or leasehold with an unexpired lease of 75 years or more.
The property must have adequate buildings insurance for the duration of the loan.
Minimum loan value - £2,500.
Maximum loan value - £40,000.