’Easy’ mortgages?
PA Wellington The Government was considering introducing ‘•slow start” mortgages for new-house buyers, said the Prime Minister (Mr Muldoon) yesterday. This'would make mortgage repayments easier in the earlier’years and would induce people to buy new houses rather than existing ones. The scheme would be more suitable for firsthome buyers, younger persons on relatively low incomes who found it dim-
cult to meet repayments on a normal mortgage. “If we could cut that repayment down very sharply, even though later they would have to pay more, it enables them to take on the commitment,” said Mr Muldoon. “The whole idea is to make lending policies more flexible to meet the needs of the specific borrower and to look for things that are stopping people taking out house contracts and try and overcome those difficulties.”
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19780718.2.5
Bibliographic details
Press, 18 July 1978, Page 1
Word Count
135’Easy’ mortgages? Press, 18 July 1978, Page 1
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in